Social Sciences, asked by tenuleseb488, 10 months ago

What do you understand by consumption ?​

Answers

Answered by guriya16101995
0

Answer:

Consumption is defined as the use of goods and services by a household. It is a component in the calculation of the Gross Domestic Product (GDP). Also, GDP can be used to compare the productivity levels between different countries. Macroeconomists typically use consumption as a proxy of the overall economy.

Answered by AVENGERS789456
2

Consumption, in economics, the use of goods and services by households. Consumption is distinct from consumption expenditure, which is the purchase of goods and services for use by households.

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