Consumption
In Keynesian economics aggregate consumption is total personal consumption expenditure, i.e., the purchase of currently produced goods and services out of income, out of savings (net worth), or from borrowed funds. It refers to that part of disposable income (income after taxes paid and payments received) that does not go to saving.
Read more about this topic: Keynesian Formula
Famous quotes containing the word consumption:
“Tourism, human circulation considered as consumption ... is fundamentally nothing more than the leisure of going to see what has become banal.”
—Guy Debord (b. 1931)
“Daily life is governed by an economic system in which the production and consumption of insults tends to balance out.”
—Raoul Vaneigem (b. 1934)
“What happens is that, as with drugs, he needs a stronger shot each time, and women are just women. The consumption of one woman is the consumption of all. You can’t double the dose.”
—Ian Fleming (1908–1964)