Consumption (economics)

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Consumption (economics)

Definition

Wikipedia articleDbpedia source

Consumption is a major concept in economics and is also studied by many other social sciences. Economists are particularly interested in the relationship between consumption and income, and therefore in economics the consumption function plays a major role. Different schools of economists define production and consumption differently. According to mainstream economists, only the final purchase of goods and services by individuals constitutes consumption, while other types of expenditure — in particular, fixed investment, intermediate consumption, and government spending — are placed in separate categories. 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).

English Wikipedia http://en.wikipedia.org/wiki/Consumption_(economics)

Spanish wikipedia http://es.wikipedia.org/wiki/Consumo

Wiki page external link http://www.economic-truth.co.uk/content-essays/bsc/keynesconsumption.pdf