Consumption (economics) facts for kids
Consumption is a major concept from economics. Consumers spend their all their income. Some of this income is spent on buying the products and 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.
Images for kids
-
People buying home electronics at a shopping mall in Jakarta, Indonesia
See also
In Spanish: Consumo para niños
All content from Kiddle encyclopedia articles (including the article images and facts) can be freely used under Attribution-ShareAlike license, unless stated otherwise. Cite this article:
Consumption (economics) Facts for Kids. Kiddle Encyclopedia.