What is Consumption (economics)?
'''Consumption''' is a major concept from [[economics]]. [[Consumer]]s spend all their [[income]]. Some of this income is spent on buying the [[Product (business)|products]] and [[Service (economics)|services]] they need - this is called consumption. [[John Maynard Keynes]] talked about [[consumer spending]] and a''' consumption function '''which expresses how households spend their income. Different schools of economics define this consumption function differently, but they agree on the basic mechanism how consumption works. {{Consumer behaviour}} {{stub}} [[Category:Economics]]