Here is a list of subtopics without any description for Consumption Goods:
- Durable goods
- Nondurable goods
- Services
- Consumer durables
- Consumer nondurables
- Consumer services
- Final consumption expenditure
- Private consumption expenditure
- Household final consumption expenditure
- Household final consumption expenditure in current prices
- Household final consumption expenditure in constant prices
- Household final consumption expenditure at market prices
- Household final consumption expenditure at factor cost
- Household final consumption expenditure by purpose
- Household final consumption expenditure by type of good and service
- Household final consumption expenditure by household income group
- Household final consumption expenditure by age group
- Household final consumption expenditure by geographic area
Consumption goods are goods and services that are purchased by households for their own use. They are the largest component of GDP, accounting for about two-thirds of total spending. Consumption goods can be divided into three categories: durable goods, nondurable goods, and services.
Durable goods are goods that have a long lifespan and are typically used for more than one year. Examples of durable goods include cars, appliances, and furniture. Nondurable goods are goods that have a short lifespan and are typically used up within a year. Examples of nondurable goods include food, clothing, and gasoline. Services are intangible products that are provided by businesses to consumers. Examples of services include haircuts, dry cleaning, and banking.
Final consumption expenditure is the total amount of spending by households on goods and services for their own use. It includes both durable and nondurable goods, as well as services. Private consumption expenditure is the total amount of spending by households on goods and services for their own use, excluding spending on government goods and services. Household final consumption expenditure is the total amount of spending by households on goods and services for their own use, excluding spending on business investment goods and government goods and services.
Household final consumption expenditure in current prices is the total amount of spending by households on goods and services for their own use, measured at current market prices. Household final consumption expenditure in constant prices is the total amount of spending by households on goods and services for their own use, measured at constant market prices. Household final consumption expenditure at market prices is the total amount of spending by households on goods and services for their own use, measured at market prices. Household final consumption expenditure at factor cost is the total amount of spending by households on goods and services for their own use, measured at factor cost.
Household final consumption expenditure by purpose is the total amount of spending by households on goods and services for their own use, classified by purpose. Examples of purposes include food, housing, transportation, and recreation. Household final consumption expenditure by type of good and service is the total amount of spending by households on goods and services for their own use, classified by type of good or service. Examples of types of goods and services include durable goods, nondurable goods, and services. Household final consumption expenditure by household income group is the total amount of spending by households on goods and services for their own use, classified by household income group. Examples of household income groups include low-income households, middle-income households, and high-income households. Household final consumption expenditure by age group is the total amount of spending by households on goods and services for their own use, classified by age group. Examples of age groups include children, working-age adults, and seniors. Household final consumption expenditure by geographic area is the total amount of spending by households on goods and services for their own use, classified by geographic area. Examples of geographic areas include urban areas, rural areas, and suburban areas.
Consumption goods are an important part of the economy. They provide households with the goods and services they need to live and work. Consumption goods also create jobs and stimulate economic growth.
Durable goods are goods that are expected to last for three years or more. Examples of durable goods include cars, furniture, and appliances.
Nondurable goods are goods that are expected to last for less than three years. Examples of nondurable goods include food, clothing, and gasoline.
Services are intangible products that are produced by businesses and consumed by households. Examples of services include haircuts, dry cleaning, and medical care.
Consumer durables are durable goods that are purchased by households for their own use. Examples of consumer durables include cars, furniture, and appliances.
Consumer nondurables are nondurable goods that are purchased by households for their own use. Examples of consumer nondurables include food, clothing, and gasoline.
Consumer services are services that are purchased by households for their own use. Examples of consumer services include haircuts, dry cleaning, and medical care.
Final consumption expenditure is the total amount of money that households spend on goods and services during a given period of time.
Private consumption expenditure is the total amount of money that households spend on goods and services that are produced within the country’s borders.
Household final consumption expenditure is the total amount of money that households spend on goods and services, including both domestically produced and imported goods and services.
Household final consumption expenditure in current prices is the total amount of money that households spend on goods and services, measured in the prices that are currently in effect.
Household final consumption expenditure in constant prices is the total amount of money that households spend on goods and services, measured in the prices that were in effect in a base year.
Household final consumption expenditure at market prices is the total amount of money that households spend on goods and services, including both the prices that households pay and the taxes that are levied on those goods and services.
Household final consumption expenditure at factor cost is the total amount of money that households spend on goods and services, excluding the taxes that are levied on those goods and services.
Household final consumption expenditure by purpose is the total amount of money that households spend on goods and services, classified according to the purpose for which the goods and services are purchased.
Household final consumption expenditure by type of good and service is the total amount of money that households spend on goods and services, classified according to the type of good or service that is purchased.
Household final consumption expenditure by household income group is the total amount of money that households spend on goods and services, classified according to the income level of the household.
Household final consumption expenditure by age group is the total amount of money that households spend on goods and services, classified according to the age of the household head.
Household final consumption expenditure by geographic area is the total amount of money that households spend on goods and services, classified according to the geographic area in which the household resides.
Question 1
Which of the following is not a type of consumption good?
(A) Durable goods
(B) Nondurable goods
(C) Services
(D) Consumer durables
(E) Consumer services
Answer
(D) Consumer durables are a type of good, not a type of consumption good.
Question 2
Which of the following is not a component of household final consumption expenditure?
(A) Household final consumption expenditure in current prices
(B) Household final consumption expenditure in constant prices
(C) Household final consumption expenditure at market prices
(D) Household final consumption expenditure at factor cost
(E) Household final consumption expenditure by purpose
Answer
(C) Household final consumption expenditure at market prices is a component of national income, not household final consumption expenditure.
Question 3
Which of the following is not a way to classify household final consumption expenditure by purpose?
(A) Food and non-alcoholic beverages
(B) Alcoholic beverages, tobacco and narcotics
(C) Clothing and footwear
(D) Housing, water, electricity, gas and other fuels
(E) Household final consumption expenditure by age group
Answer
(E) Household final consumption expenditure by age group is not a way to classify household final consumption expenditure by purpose.
Question 4
Which of the following is not a way to classify household final consumption expenditure by type of good and service?
(A) Durable goods
(B) Nondurable goods
(C) Services
(D) Household final consumption expenditure by household income group
(E) Household final consumption expenditure by geographic area
Answer
(D) Household final consumption expenditure by household income group is not a way to classify household final consumption expenditure by type of good and service.