The Keynesian consumption function is also known as the absolute income hypothesis, as it only … See more

Aggregate consumption is a component of aggregate demand.
Consumption is defined in part by comparison to production. In the tradition of the Columbia School of Household Economics, … See more

GDP (Gross domestic product) is defined via this formula:
Where stands for consumption.
Where stands for total government spending. (including salaries)
Where stands … See more

In microeconomics, consumer choice is a theory that assumes that people are rational consumers and they decide on what combinations of goods to buy based on their utility function (which goods provide them with … See more

In macroeconomics in the theory of national accounts consumption is not only the amount of money that is spent by households on goods and services from companies, but also the expenditures of governmen… See more

Consumption of electric energy is positively correlated with economical growth. As electric energy is one of the most important inputs of the economy. Electric energy is needed to produce goods and to provide services to … See more

The main factors affecting consumption studied by economists include:
Income: Economists consider the income level to be the most crucial factor affecting consumption. Therefore, the offered consumptio… See more