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DISPOSABLE INCOME: The total income that can be used by the household sector for either consumption or saving during a given period of time, usually one year. This is the income left over after income taxes and social security taxes are removed and government transfer payments, like welfare, social security benefits, or unemployment compensation are added.
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                           NONDURABLE GOODS, CONSUMPTION: Personal consumption expenditures on tangible goods that tend to last for less than a year. Common examples are food, clothing, and gasoline. This is one of three categories of personal consumption expenditures in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. The other two are durable goods and services. Nondurable goods are about 30 percent of personal consumption expenditures and 20 percent of gross domestic product. Nondurable goods are consumption goods purchased by the household sector that generally have a useful, satisfaction-providing existence of shorter than a year. Household expenditures on nondurable goods are generally unaffected by business cycles. In good times and bad, the household sector continues to purchase nondurable goods at a relatively constant pace.The three main subcategories of nondurable goods in the National Income and Product Accounts are "food," "clothing and shoes," and "gasoline and oil." Food, as might be expected is half of the nondurable goods expenditures. Clothing and shoes constitute about 18 percent and gasoline and oil comes in at about 7 percent of nondurable goods expenditures. The remaining 25 percent of nondurable goods purchased by the household sector includes "fuel oil and coal" (less than 1 percent) and a handy catch-all "other" category (which is the bulk of the remaining 25 percent). These categories are straightforward and do not require much explanation. The "food" entry is obviously food, "clothing and shoes" is, well, clothing and shoes, and "gasoline and oil" is gasoline and oil. The "other" category includes any nondurable good not classified elsewhere, including such things as pencils, newspapers, shampoo, and plastic picnic spoons.
Recommended Citation:NONDURABLE GOODS, CONSUMPTION, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: May 15, 2025].
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Today, you are likely to spend a great deal of time searching for a specialty store wanting to buy either a coffee cup commemorating the 2000 Olympics or a birthday gift for your grandmother. Be on the lookout for mail order catalogs with hidden messages.
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Lombard Street is London's equivalent of New York's Wall Street.
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"I don't know the key to success, but the key to failure is trying to please everybody. " -- Bill Cosby
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JEMS
Journal of Economics and Management Strategy
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