Consumption is when you use things to make your life better or more fun.
Imagine you have a big bag of chips. Eating those chips is like consumption, you're using the chips to feel happy and satisfied. Just like how you eat snacks, people around the world use different things every day to enjoy life.
What People Consume
People consume many kinds of things:
- Food, like your lunch or snack
- Clothes, like your favorite shirt or pants
- Toys, like your favorite game or stuffed animal
- Services, like going to the park or getting a haircut
Each time you use something, that's consumption happening right in front of you!
Why We Consume
We consume because we want to be happy, comfortable, and ready for new adventures. Whether it’s eating a delicious meal or playing with your favorite toy, consumption is part of how we enjoy life every day.
Examples
- A child buying candy with allowance money
- A person shopping for groceries every week
- Someone choosing between two brands of soda
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See also
- George Selgin: Do we really need Central Banks?
- How Culture Drives Behaviours | Julien S. Bourrelle | TEDxTrondheim?
- How Does Countries With Highest Inflation (1981-2019) Work?
- How Does Imports, Exports, and Exchange Rates: Crash Course Economics #15 Work?
- How Does Everything You Think About Interest Rates and Inflation is Wrong Work?