ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Consumption goods are regarded as those goods that are most suited for final consumption. In other words, the end user of consumer goods is the consumer itself while the capital goods are those goods that are used for production of consumption goods.

Detailed explanation-2: -What is Consumption? Consumption is defined as the use of goods and services by a household. It is a component in the calculation of the Gross Domestic Product (GDP). Macroeconomists typically use consumption as a proxy of the overall economy.

Detailed explanation-3: -Tuberculosis, also known as consumption, is a disease caused by bacteria that usually attacks the lungs, and at the turn of the 20th century, the leading cause of death in the United States.

Detailed explanation-4: -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-5: -A consumer good is any good purchased for consumption and not used later to produce another consumer good. Consumer goods are sometimes called final goods because they end up in the hands of the consumer or the end-user. Examples of consumer goods include food, clothing, vehicles, electronics, and appliances.