The demand and supply of commodities generated in the economy are the primary economic indicators of the nation. The production of durable goods is a vital component of the economy. The production sector accounts for almost 60% of the entire consumption of consumer durables. There is more room for growth in the gross domestic product of consumption when it comes to consumer behavior when it comes to non-durable goods purchases. Changes in the non-durables purchase pattern are a reliable indicator of population expansion. Durable goods purchases decline during economic downturns or pandemics, while non-durables purchases follow the same pattern.
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- et al. (2024) studied this question.
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