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What is macroeconomic consumption?

Macroeconomic consumption is the sum of the consumption of all households, keeping into account that households are not independent from each other but rather communicate and co-variate.

What is consumption in economics?

Consumption, in economics, the use of goods and services by households. Neoclassical (mainstream) economists generally consider consumption to be the final purpose of economic activity, and thus the level of consumption per person is viewed as a central measure of an economy’s productive success.

How does consumption differ from consumption expenditure?

Consumption differs from consumption expenditure primarily because durable goods, such as automobiles, generate an expenditure mainly in the period when they are purchased, but they generate “consumption services” (for example, an automobile provides transportation services) until they are replaced or scrapped. (See consumer good .)

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