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Encyclopedia Britannica - Main :: COM-COR |
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CONSUMPTION (Lat. consumere) , literally, the act of consuming or destroying. Thus the word is popularly applied to phthisis
special
term
production ," which is the creation of utilities, a utility in this connexion being anything which satisfies a desire or serves a purpose. Consumption
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
special
Roscher , Nationalokonomie, 1883, and G. Schonberg, Handbuch d. polit. Okonomie, 189o-1891.End of Article: CONSUMPTION (Lat. consumere) If you wish, you can link directly to this article.
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