Consumption Flashcards
(5 cards)
1
Q
What is consumption?
A
Planned spending of households.
The biggest impact on AD
2
Q
what % of AD is consumption in the UK?
A
consumption = roughly 60% of AD in the UK
3
Q
types of consumption
A
-Inferior
-Luxury
-Goods
-Services
4
Q
who is most likely to consume?
A
Parents with young children or people over 50
5
Q
who is least likely to consume?
A
students/ pensioners
