ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Household final consumption expenditure is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings.

Detailed explanation-2: -The Level of Income and its Distribution 2. Consumer’s Expectations 3. The Rate of Interest 4. Tastes and Preferences 5.

Detailed explanation-3: -consumption function, in economics, the relationship between consumer spending and the various factors determining it. At the household or family level, these factors may include income, wealth, expectations about the level and riskiness of future income or wealth, interest rates, age, education, and family size.

Detailed explanation-4: -The GlobalData survey of more than 55, 000 consumers found that shoppers spent 8.4% more on Thanksgiving, 6.9% more during Black Friday and Cyber Week, and 6.5% more during Christmas and other purchases during the holiday season.