EntropicLove said:What about this example, a laptop that a consumer buys but then uses to make opensource software or for-profit (contracted) software and uses for household purposes as well?
Capital goods are any physical assets that are used in the production of other goods and services. These can include machinery, equipment, buildings, and technology.
Yes, households can own capital goods. This can include items such as a car, computer, or even a home. However, in economics, the term "capital goods" typically refers to assets used for production, so in this sense, households may not own as many capital goods as businesses or governments.
Households can acquire capital goods in a number of ways, such as purchasing them outright, taking out loans, or leasing them. The method of acquisition will depend on the type of capital good and the financial resources of the household.
Capital goods play a crucial role in a household's economy as they can increase productivity and efficiency. For example, owning a car allows a household to travel to work and earn income, while owning a computer can help with tasks such as budgeting and online shopping.
While owning capital goods can be beneficial, there are also potential downsides. For one, purchasing or maintaining capital goods can be costly. Additionally, if a household's capital goods are not used effectively, they may not yield the desired economic benefits. Lastly, owning capital goods can also create a financial burden if the household falls into debt or experiences a decline in income.