Consumption and Savings 2.2.2 Flashcards
1
Q
What is Concumption?
A
The total money spent on trade goods and services by individuals and households for personal use.
1
Q
What are Personal Consumer Expenditures
A
The value of goods and services puchased by citisens and households eg travel leasure and healthcare.
2
Q
what are the key factors that influence consumption?
A
house prices
real income
unemployment rate
consumer confidence
intrest rates
avalibility of credit
welfare benefits
tax rates
demographics
inflation and cost of living
3
Q
Define savings
A
The amount of household income that is not spend by consumers.
4
Q
A
