what is consumption for 2 marks
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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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The definition of consumption is buying and using something or how much of something has been used up. ... An example of consumption is eating a snack and some cookies. An example of consumption is when a person consumes 2 bushels vegetables per day.
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