| Consumption: In economics, consumption refers to the act of using goods and services to satisfy current needs and wants. It is a key component of economic activity and is measured as part of gross domestic product (GDP). Consumption is driven by factors such as income, wealth, preferences, and expectations. Consumption is a key component of the economy, influencing production, demand for goods, and overall economic growth. See also economic growth, Economy, Preferences._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. |
