Food and clothing are examples of:

Food and clothing are commonly categorized as short-term consumable goods because they are items that individuals use on a relatively daily basis and are consumed quickly. These goods do not have a long lifespan; for example, food is consumed within days or weeks, while clothing may last a season or a few years but is generally replaced frequently due to wear and seasonal trends.

Short-term consumable goods stand in contrast to long-term investments, which are assets expected to provide returns or benefits over many years, such as stocks or real estate. Fixed assets, like machinery or vehicles owned by businesses, are tangible aspects that are not typically purchased for immediate consumption. Luxury items would include high-end products that are bought primarily for pleasure or status rather than necessity, which does not accurately describe the fundamental nature of food and clothing. Thus, categorizing them as short-term consumable goods accurately reflects their purpose and usage in personal finance.