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Durable Goods
Durable goods are items with a long useful life, typically three years or more, such as appliances and vehicles, which consumers purchase with the expectation that they will not need to be replaced frequently.
Capital Equipment
Long-term assets such as machinery, vehicles, or infrastructure that a business uses in its operations to produce goods or services.
Depreciation
Depreciation is the process of allocating the cost of a tangible asset over its useful life, reflecting the decrease in the asset's value over time.
Nominal GDP
The total worth of all end products and services generated inside a nation over a specific timeframe, valued at present market prices.
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