Description Overview Tuberculosis was popularly known as consumption for a long time. Scientists know it as an infection caused by M. tuberculosis. In 1882, the microbiologist Robert Koch discovered the tubercle bacillus, at a time when one of every seven deaths in Europe was caused by TB.
consumption, in economics, the use of goods and services by households. Consumption is distinct from consumption expenditure, which is the purchase of goods and services for use by households.
According to mainstream economists, only the final purchase of goods and services by individuals constitutes consumption, while other types of expenditure — in particular, fixed investment, intermediate consumption, and government spending — are placed in separate categories (See consumer choice).
Consumption, in the context of economics, refers to the use of goods and services by individuals, households, or entities to satisfy their wants, needs, and desires.
Consumption is defined as the use of goods and services by households. That means it is the process of buying and using goods and services to satisfy one’s needs and wants.
Consumption means using, buying or eating something. If we don't reduce our energy consumption, we will run out of fuel. Conspicuous consumption is buying something to show off.
