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Consumption
The ultimate utilization of goods and services by consumers, excluding the products used in the production of other goods (i.e., the machinery used to make the goods). The term is derived from the Latin consumere, to use up, generally referring to food, which, in the Middle Ages and Early Modern period, constituted commodity consumption for most people. While the majority of one's income was spent on food in the 16th century, by the 18th century more of the population had become consumers in the modern sense of the word. Consumption has evolved to include the use of products or goods for one's satisfaction beyond immediate needs. This subjective view is associated foremost with the economist and political philosopher Jeremy Bentham (1748–1832).
Consumption, primarily determined by income ...