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Producer’s goods and consumers goods:

The goods which are used for further production are called producer’s goods. Ex: Plant, Machines etc. The goods which are used for a final consumption are called consumer’s goods. Ex: Food articles, Watches etc.

Durable and non durable (perishable) goods:

This is the classification of Consumer goods. The goods which are durable in nature i.e can be consumed more than once, like watches, T.V etc. The goods which are perishable in nature are called Non durable goods. Ex: these goods cannot be consumed more than once and also cannot be stored for long time, like food items.

Derived and autonomous demand:

If the demand for the good is derived from the demand of other good it is called derived demand. Ex: demand for cement is derived from demand for of buildings. If the demand for a good is not derived from any other good then it is called Autonomous demand. Ex: houses.

Industry demand and company demand:

An industry is an aggregate of firms. Thus, the company demand is similar to individual demand. Industry demand means it’s an aggregate demand of the companies of a particular industry. Ex, FMCG Industry. The company demand is the demand of an individual company or firm.

Short run and long run demand:

Short run demand immediate response of demand if there is a change in price, income etc. Long run demand means here also demand responsiveness will exists but more time will allow the market to get adjusted to the new situation.

New and replacement demand:

If the purchase or acquisition of an item is means as an addition to stock it is called new demand. Ex: New generation computer. If the purchase of an item is meant for maintaining the old stock of capital/asset it is called replacement demand. Ex: demand for spare parts of the machine.

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