Current Use: Final Consumption Expenditure
Government acquisition of goods and services for current use to directly satisfy individual or collective needs of the members of the community is called government final consumption expenditure (GFCE.) It is a purchase from the national accounts "use of income account" for goods and services directly satisfing of individual needs (individual consumption) or collective needs of members of the community (collective consumption). GFCE consists of the value of the goods and services produced by the government itself other than own-account capital formation and sales and of purchases by the government of goods and services produced by market producers that are supplied to households - without any transformation - as "social transfers" in kind.
Read more about this topic: Government Spending
Famous quotes containing the words final, consumption and/or expenditure:
“So that the old joy, modest as cake, as wine and friendship
Will stay with us at the last, backed by the night
Whose ruse gave it our final meaning.”
—John Ashbery (b. 1927)
“I should like to suggest that at least on the face of it a stroke by stroke story of a copulation is exactly as absurd as a chew by chew account of the consumption of a chicken’s wing.”
—William Gass (b. 1924)
“Shopping malls are liquid TVs for the end of the twentieth century. A whole micro-circuitry of desire, ideology and expenditure for processed bodies drifting through the cyber-space of ultracapitalism.”
—Arthur Kroker (b. 1945)