Home electronics in the context of "Calculator"

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⭐ Core Definition: Home electronics

Consumer electronics, also known as home electronics, are electronic devices intended for everyday household use. Consumer electronics include those used for entertainment, communications, and recreation. Historically, these products were referred to as "black goods" in American English due to many products being housed in black or dark casings. This term is used to distinguish them from "white goods", which are meant for housekeeping tasks, such as washing machines and refrigerators. In British English, they are often called "brown goods" by producers and sellers. Since the 2010s, this distinction has been absent in big box consumer electronics stores, whose inventories include entertainment, communication, and home office devices, as well as home appliances.

Radio broadcasting in the early 20th century brought the first major consumer product, the broadcast receiver. Later products included telephones, televisions, calculators, cameras, video game consoles, mobile phones, personal computers, and MP3 players. In the 2010s, consumer electronics stores often sold GPS, automotive electronics (vehicle audio), video game consoles, electronic musical instruments (e.g., synthesizer keyboards), karaoke machines, digital cameras, and video players (VCRs in the 1980s and 1990s, followed by DVD players and Blu-ray players). Stores also sold smart light fixtures, network devices, camcorders, and smartphones. Some of the modern products being sold include virtual reality goggles, smart home devices that connect to the Internet, streaming devices, and wearable technology.

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Home electronics in the context of Consumption (economics)

Consumption refers to the use of resources to fulfill present needs and desires. It is seen in contrast to investing, which is spending for acquisition of future income. Consumption is a major concept in economics and is also studied in many other social sciences.

Different schools of economists define consumption differently. According to mainstream economists, only the final purchase of newly produced goods and services by individuals for immediate use constitutes consumption, while other types of expenditure — in particular, fixed investment, intermediate consumption, and government spending — are placed in separate categories (see consumer choice). Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and marketing of goods and services (e.g., the selection, adoption, use, disposal and recycling of goods and services).

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