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Encyclopedia Britannica



CONSUMPTION (Lat. consumere)

This article appears in Volume V07, Page 23 of the Encyclopedia Britannica.

Encyclopedia Britannica - Main :: COM-COR
CONSUMPTION (Lat. consumere) , literally, the act of consuming or destroying. Thus the word is popularly applied to
phthisis
 , a " wasting away " of the lungs due to tuberculosis (q.v.). In economics the word has a
special
  significance as a technical
term
 . It has been defined as the destruction of utilities, and thus opposed to "
production
 ," which is the creation of utilities, a utility in this connexion being anything which satisfies a desire or serves a purpose.
Consumption
  may be either productive or unproductive; productive where it is a means directly or indirectly to the
satisfaction
  of any economic want, unproductive when it is devoted to pleasures or luxuries. Its
place
  in the science of economics, and its
close
  relation with
production
 , are treated of in every text-
book
 , but
special
  reference may be made to W.
Roscher
 , Nationalokonomie, 1883, and G. Schonberg, Handbuch d. polit. Okonomie, 189o-1891.


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