Consumption refers to the use of goods and services by households. It plays a crucial role in the economy, driving demand and influencing production. Understanding consumption patterns helps businesses tailor their offerings to meet consumer needs, ultimately impacting economic growth.
In a broader context, consumption can also reflect cultural and social trends. Factors such as income, preferences, and societal values shape how individuals and communities consume resources. This interplay between consumption and lifestyle choices highlights the importance of sustainable practices in today's world.