Consumption

Definition of Consumption

The definition of consumption goes many ways but is best-described as the final purchase of goods and services by individuals. As a GDP (Gross Domestic Product) component, consumption is the largest. The economic performance of a country is judged by the consumption level and its dynamics.

Books on Consumption

Book 1 –

Consumption Economics: The New Rules of Tech By J. B. Wood, Todd Hewlin, Thomas Lah (published by Point B Incorporated, 2011)

Book 2 –

Ethical Consumption: Social Value and Economic Practice Edited by James G. Carrier, Peter Luetchford (published by Berghahn Books, 2012)

How Consumption works?

When you drive in a car and stop at a drive thru for food, it is just an example of consumption. If we stop purchasing the products that all business offers, result that business will no longer be in the business.

When you buy a pair of shoes or a hamburger at a fast food centre, or the services that you get from house cleaning are all examples of consumption.

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