Sponsor Area
Introduction
Question
What is consumption ?
Solution
Consumption is the process of using up utility value of goods and services for the direct satisfaction of our wants. Utility value of goods means inherent capacity of goods and services to satisfy human wants.
Some More Questions From Introduction Chapter
Define Economics.
Define economic activity.
Who is a consumer ?
What is consumption ?
Who is a producer ?
What is production ?
What is saving ?
Define investment.
Who are the agents of production ?
Define economic problem.
Sponsor Area
Mock Test Series
Mock Test Series