Measuring of GDP - Expenditure - Consumption Expenditure

4 important questions on Measuring of GDP - Expenditure - Consumption Expenditure

What is consumption expenditure?

It refers to household spending on goods and services.

What are consumer durable goods?

These are long-lived consumer goods like cars, furniture, and appliances.

Can you give examples of consumer non-durable goods?

Examples include short-lived consumer goods such as clothing, food, and bedding.
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What are the largest components of consumer spending?

Major components include education, taxi rides, and haircuts.

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