consumption

con·sump·tion

noun \kən-ˈsəm(p)-shən\

Definition of CONSUMPTION

1

a : a progressive wasting away of the body especially from pulmonary tuberculosis

b : tuberculosis

2

a : the act or process of consuming <consumption of food> <consumption of resources>

b : use by or exposure to a particular group or audience <the document was not intended for public consumption>

3

: the utilization of economic goods in the satisfaction of wants or in the process of production resulting chiefly in their destruction, deterioration, or transformation

Examples of CONSUMPTION

1. The jet's high fuel consumption makes it expensive to operate.

Origin of CONSUMPTION

Middle English consumpcioun, from Latin consumption-, consumptio, from consumere

First Known Use: 14th century

con·sump·tion

noun \kən-ˈsəm(p)-shən\   (Medical Dictionary)

Medical Definition of CONSUMPTION

1

: a progressive wasting away of the body especially from pulmonary tuberculosis

2

: tuberculosis

consumption

noun    (Concise Encyclopedia)

In economics, the final using up of goods and services. The term excludes the use of intermediate products in the production of other goods (e.g., the purchase of buildings and machinery by a business). Economists use statistical information on income and purchases to trace trends in consumption, seeking to map consumer demand for goods and services. In classical economics, consumers are assumed to be rational and to allocate expenditures in such a way as to maximize total satisfaction from all purchases. Incomes and prices are seen as consumption's two major determinants. Critics of the model point out that there are many exceptions to rational consumer behaviour—for example, the phenomenon of conspicuous consumption, in which the high price of a product increases its prestige and adds to demand.