Consumption (economics)
hideConsumption is a common concept in economics, and gives rise to derived concepts such as consumer debt. Generally consumption is defined by opposition to production. But the precise definition can vary because different schools of economists define production quite differently. According to some economists, only the final purchase of goods and services constitutes consumption, and every other commercial activity is some form of production. Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and marketing of goods and services (e.g. "the selection, adoption, use, disposal and recycling of goods and services").
Likewise, consumption can be measured by a variety of different metrics such as energy in energy economics . The total consumer spending in an economy is generally calculated using the consumption function, a metric devised by John Maynard Keynes, which simply takes the aggregate disposable income and multiplies it by a "marginal propensity to consume". This metric essentially defines consumption as the part of disposable income that does not go into savings. But disposable income in turn can be defined in a number of ways - e.g. to include borrowed funds or expenditures from savings.
For more information about Consumption (economics), read the full article at
Wikipedia.
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News tagged with spending
US tops world in health care spending, results lag
Dec 08, 2009 |
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(AP) -- The United States ranks near the bottom in life expectancy among wealthy nations despite spending more than double per person on health care than the industrialized world's average, an economic group said Tuesday.
Japan scientists attack govt research cut plans
Nov 26, 2009 |
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Top Japanese scientists, including four Nobel laureates, have criticised the new government for plans to slash research budgets, warning the country will loose its high-tech edge.
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Study shows health care spending spurs economic growth
Dec 14, 2009 |
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As the national discussion of health care focuses on costs, a new study from North Carolina State University shows that it might be more accurate to think of health care spending as an investment that can spur economic growth. ...
Tech investing will be a tougher play in 2010
Dec 17, 2009 |
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(AP) -- Mutual funds that bet exclusively on technology stocks are the star performers of 2009.
Broadband stimulus moves at dial-up speeds
Dec 03, 2009 |
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Mark Morgenthaler wants nothing more than to hire 15 people to help expand his wireless Internet service, Surfnet Communications in the Santa Cruz Mountains. He can't wait to start accepting applications, interviewing candidates, ...
Novel carbon-trading scheme could stop large-scale extinctions
Dec 03, 2009 |
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A new strategy for saving tropical forest species was published in the leading journal Science on the eve of the United Nations Framework Convention on Climate Change in Copenhagen, Denmark, by a team of researchers, includ ...
The Thought Is What Counts
Medicine & Health / Psychology & Psychiatry
Dec 22, 2009 |
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Holiday gift givers who expect to be appreciated for choosing the most expensive gifts are likely to be disappointed when their presents are unwrapped. Cost has little impact on how much we value the gifts we receive, according ...
Christmas Web sales spike after snowstorm
Dec 21, 2009 |
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(AP) -- Stores in the snow-battered East Coast may have been sparse this weekend, but shoppers kept spending online. Retailers spurred sales with new discounts and shipping offers to make sure gifts arrive ...
Diabetes cases to double and costs to triple by 2034
Nov 27, 2009 |
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In the next 25 years, the number of Americans living with diabetes will nearly double, increasing from 23.7 million in 2009 to 44.1 million in 2034. Over the same period, spending on diabetes will almost triple, rising from ...
Holiday shopping off to mildly encouraging start
Nov 30, 2009 |
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(AP) -- After shoppers gave retailers a somewhat encouraging start to the holiday shopping season, stores now turn their attention to the online promotions known as Cyber Monday and bringing back customers ...
Less TV time may help overweight adults burn more calories, researcher says
Dec 14, 2009 |
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(PhysOrg.com) -- Adults may stave off weight gain by simply spending less time watching television, according to a new study. Overweight adults who cut television time in half burned more calories as a result. ...
Free after 35 years: DNA clears Florida inmate
Dec 18, 2009 |
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(AP) -- For years, James Bain insisted he was home watching TV with his twin sister when a 9-year-old boy was kidnapped and raped.
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