Which of the following is an example of a durable good?

A durable good is defined as a product that is not consumed quickly and has a lifespan of several years, typically lasting three years or more. These goods are intended for long-term use and are often more expensive than non-durable goods, which are consumed or used up quickly.

A refrigerator is a perfect example of a durable good because it is designed to last for many years, providing a vital function in households and businesses by preserving food and beverages. Unlike non-durable goods that are consumed after a single use or over a short period, a refrigerator is a long-lasting investment, providing value over time.

In contrast, clothing, soap, and food do not meet the criteria for durable goods. Clothing can last for a while, but it is more of an apparel item that can wear out and become outdated. Soap is consumed relatively quickly and is classified as a non-durable good because it has a short usage life. Food is also perishable and meant for immediate consumption, falling under the non-durable category. Therefore, the refrigerator stands out as the best example of a durable good.