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.”
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.
Consider product lifespan in budgeting.
Themes
Mood
Type
When to use this quote
- personal finance
- business planning
- government reporting
Key Concepts
Questions to Reflect On
- How does this definition affect economic policy?
- Are there better ways to categorize goods?
Definitions may vary across industries.