"All consumption goods are durable in nature." Defend or refute the given statement with the help of a suitable example.

Question

Accepted Answer

Refute: All consumption goods are NOT durable in nature.

Reason:
- Consumption goods can be durable or non-durable
- Durable goods: Used over a long period (cars, furniture, appliances)
- Non-durable goods: Used up immediately or over a short period (food, clothing, fuel)

Examples:
1. Durable: Washing machine, refrigerator, car
2. Non-durable: Bread, milk, vegetables

The nature of the good (durable or non-durable) depends on its usage pattern, not its classification as a consumption good.