Which component of consumption spending is the greatest in a typical industrialized economy?
A)services
B)durable goods
C)nondurable goods
D)new housing

Question

Quizplus · Accepted Answer

In a typical industrialized economy, services make up the largest component of consumption spending. This includes things like healthcare, education, transportation, and entertainment. While durable goods (B) and nondurable goods (C) are also important components of consumption spending, they generally make up a smaller portion of total spending. New housing (D) is not typically included as a component of consumption spending, but rather as investment spending.

Which Component of Consumption Spending Is the Greatest in a Typical