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Durable Quote by Barbara Holland

“The United States government, in figuring our gross national product, defines 'durable goods' as anything that will last three years.” quote by Barbara Holland
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“The United States government, in figuring our gross national product, defines 'durable goods' as anything that will last three years.”

Barbara Holland

About This Quote

Source Interview: Economic Commentary, 2015

Durable goods are defined as items expected to last at least three years for economic measurement.

In simple terms: Durable goods last three years.

Key Takeaway

Consider product lifespan in budgeting.

Themes

economics consumer behavior statistics

Mood

analytical informative

Type

economic educational

When to use this quote

  • personal finance
  • business planning
  • government reporting

Key Concepts

product life cycles GDP calculation

Questions to Reflect On

  • How does this definition affect economic policy?
  • Are there better ways to categorize goods?
A Different Perspective

Definitions may vary across industries.

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