Economic Consumption (Noun)
Meaning
(economics) the utilization of economic goods to satisfy needs or in manufacturing; "the consumption of energy has increased steadily".
Classification
Nouns denoting natural processes.
Examples
- The government implemented policies to reduce economic consumption of non-renewable resources and promote sustainable development.
- Economic consumption patterns of households can have a significant impact on the overall performance of a country's economy.
- The rise of fast fashion has led to an increase in economic consumption of cheap, disposable clothing, contributing to textile waste and pollution.
- As the global population grows, economic consumption of food, water, and energy is expected to rise, putting pressure on the world's resources.
- Understanding economic consumption behavior is crucial for businesses to develop effective marketing strategies and for policymakers to design targeted interventions.