Consumer Products ©
From 05/07/2014 through 8/23/2013
Three dimensional foam greeting cards
Double-cell structure for window shade and manufacture method thereof
“In economics, any tangible commodity which is produced and subsequently consumed by the consumer, to satisfy its current wants or needs, is a consumer good or final good. Consumer goods are goods that are ultimately consumed rather than used in the production of another good. For example, a microwave oven or a mixer grinder which is sold to a consumer is a final good or consumer good, where as the components which are sold to be used in to final good those goods are called intermediate goods. For example, tires for automobile industry or copper which can be used to make some further goods.
When used in measures of national income and output, the term 'final goods' only includes new goods. For instance, the GDP excludes items counted in an earlier year to prevent double counting of production based on resales of the same item second and third hand. In this context the economic definition of goods includes what are commonly known as services.
Manufactured goods are goods that have been processed in any way. As such, they are the opposite of raw materials, but include intermediate goods as well as final goods.
There are legal definitions. For example, The United States Consumer Product Safety Act has an extensive definition of consumer product, which begins:
CONSUMER PRODUCT.--The term ‘‘consumer product’’ means any article, or component part thereof, produced or distributed (i) for sale to a consumer for use in or around a permanent or temporary household or residence, a school, in recreation, or otherwise, or (ii) for the personal use, consumption or enjoyment of a consumer in or around a permanent or temporary household or residence, a school, in recreation, or otherwise; but such term does not include— (A) any article which is not customarily produced or distributed for sale to, or use or consumption by, or enjoyment of, a consumer.”
(Consumer Products, Wikipedia, 8/23/2013)
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Roger D. Corneliussen
Maro Polymer Links
Tel: 610 363 9920
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Copyright 2013 by Roger D. Corneliussen.
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* Date of latest addition; date of first entry is 8/23/2013.