Capital goods

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Under a capital good or capital good ( English capital good ) one understands the economics in the broadest sense of goods or services for the production or processing used goods. These terms generally contrast with consumer goods .

In particular in very simple models, such as a single good world , only two types of goods are initially distinguished (according to purpose). A good belongs to the consumer goods or it does not belong to this group. In the case of wheat, for example, it can either be consumed as food or take on the function of seeds and act as a capital good. As part of this binary division of the synonymous use of the terms is capital good , capital goods , industrial goods and production goods permitted.

In the respective context or model, it may be necessary to further subdivide the capital goods. Different economic sub-disciplines sometimes use opposing or specialized classifications.

Possible classification and distinctions

Occasionally, those goods that are not used for consumption are also summarized as production goods or industrial goods and contrasted with consumer goods as a generic term. It can be raw materials, semi-finished products or even finished goods that are further processed or used by the capital or consumer goods industry. Some goods, especially those for daily use, can be used both as production goods and as consumer goods. A car radio antenna, for example, can be offered in a hardware store as a consumer good, but it can also be supplied directly by the manufacturer as a production good to the motor vehicle industry. A division of production goods into consumer goods (e.g. glue, lubricating oil, screws) and consumer goods (e.g. machines, operating and office equipment, vehicles) is also conceivable.

Types of goods according to purpose and duration
Production good Consumer good
durable good
(commodity i. w. S. )
Capital goods
(e.g. production machines, office buildings)
Consumer goods
(e.g. residential buildings, furnishings)
short-lived good
(consumer goods in the broader sense)
Intermediate goods
(e.g. lubricating oil, paints, electric motors)
(e.g. food)

However, industrial goods and capital goods are often used synonymously in theory and practice. The allocation of industrial goods is less based on technical characteristics than on the target group and the intended use.

Significance in business statistics

In economic statistics , a distinction is made between basic materials and general production goods, capital goods and consumer goods. The production goods are primarily raw materials and semi-finished goods that are used in capital and consumer goods production.

Capital goods are part of the production and service processes and are allocated to fixed assets for accounting purposes .

Importance in economics

In macroeconomics , the demand for capital goods is a component of overall economic demand . In the context of economic policy , influencing the demand for capital goods is an important point of contention between the schools of thought of supply and demand policy .

See also

Individual evidence

  1. Bernhard Beck: Microeconomics . UTB, Stuttgart; Edition: 1st edition (May 18, 2011). ISBN 978-3825235031 . P. 15.
  2. Michael Heine, Hansjörg Herr: Economics: Paradigm-oriented introduction to micro- and macroeconomics . Oldenbourg Wissenschaftsverlag; (November 21, 2012). ISBN 978-3486715231 . P. 121.
  3. Christoph Herrmann: Strategic industrial goods design: Innovation and growth through design . Jumper; Edition: 2009. ISBN 978-3642001154 . P. 15.
  4. Tim Oberstebrink: This is how you sell capital goods: From commodities to plant engineering: How you can win new customers in the face of tough competition . Gabler Verlag; Edition: 2nd, revised. 2014 edition. ISBN 978-3834946195 . P. 12.
  5. Production goods - definition in the Gabler Wirtschaftslexikon.

Web links

Wiktionary: capital goods  - explanations of meanings, word origins, synonyms, translations