Question

What do you mean by 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

Answer 2

Answer:

use of goods and service produce in order to safety human want is called as consumption in other words consumption means expenditure made on consumption during a one year in economic.