Question

5. What is consumption?

Answer 1

Answer:

Consumption, defined as spending for acquisition of utility, is a major concept in economics and is also studied in many other social sciences. It is seen in contrast to investing, which is spending for acquisition of future income. Different schools of economists define consumption differently. Wikipedia

Answer 2

Answer:

Consumption, defined as spending for acquisition of utility, is a major concept in economics and is also studied in many other social sciences. It is seen in contrast to investing, which is spending for acquisition of future income. Different schools of economists define consumption differently.

Explanation:

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