Question

explain the types of conumption

Answer 1

Answer:

For practical purposes, consumption means the spending of money income. Consumption, thus, involves expenditure of income or wealth-using activity of man. Types of Consumption: Consumption is known as direct or final consumption, when the goods satisfy human wants directly and immediately.

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Answer 2

ANSWER

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The Types of consumption are as follows :-

1.Quick conumption :-

When utility of a commodity is finished or destroyed the moment it is consumed, it is called quick consumption.For instance,the utility of of a glass of milk is completely destroyed at the moment we consume the glass of milk.

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2.Slow Consumption :-

When a commodity gives utility for long period of time, it is called slow consumption. The consumption of consumer durables such as watch,washing machine,telivision and other.

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3.Wasteful Consumption :-

When a commodity loses it's utility without satisfying any want,it is treated as wastefull consumption.For example if newly stiched catch fire and are reduced to ashes.

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