What is the definition of consumption?
A)the purchase of goods and services by foreign buyers
B)the purchase of goods and services by business firms
C)the purchase of goods and services by government
D)the purchase of goods and services by households

Question

Quizplus · Accepted Answer

Consumption refers to the purchase of goods and services by households, which includes spending on items such as food, clothing, housing, and transportation. Choices A, B, and C refer to other types of spending that are not specifically related to households.

What Is the Definition of Consumption