CONSUMPTION EXPENDITURES: The common term for expenditures by the household sector on gross domestic product. In general consumption expenditures include the wide assortment of goods and services purchased by the household sector that provide satisfaction of wants and needs. Consumption expenditures are divided into three categories -- durable, nondurable, and services. See also | consumption | satisfaction | household sector | resources | goods | services | wants | needs | personal consumption expenditures | aggregate expenditures | investment expenditures | government purchases | net exports | circular flow | durable goods, consumption | nondurable goods, consumption | services, consumption |
