What Type of Consumer Good Is Most Affected by the Business

question 83

Essay

What type of consumer good is most affected by the business cycle - durable goods or non-durable goods? Why?
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Definitions:

Automobile

A road vehicle, typically with four wheels, powered by an internal combustion engine or electric motor and used for transportation.

Loan

A sum of money or other resources that is lent to an individual, organization, or entity, typically requiring repayment with interest.

Hire-Purchase Agreement

A contract where one pays for a product in regular installments while having the ability to use it, with ownership transferring after the final payment.

Chattel Mortgage

A mortgage in which the title to a chattel owned by the debtor is transferred to the creditor as security for the payment of a debt.