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CONSUMPTION (Lat. consumere)

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Originally appearing in Volume V07, Page 23 of the 1911 Encyclopedia Britannica.
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See also:

CONSUMPTION (See also:Lat. consumere)  , literally, the See also:act of consuming or destroying . Thus the word is popularly applied to See also:phthisis, a " wasting away " of the lungs due to See also:tuberculosis (q.v.) . In See also:economics the word has a See also:special significance as a technical See also:term . It has been defined as the destruction of utilities, and thus opposed to " See also:production," which is the creation of utilities, a utility in this connexion being anything which satisfies a See also:desire or serves a purpose . See also:Consumption may be either productive or unproductive; productive where it is a means directly or indirectly to the See also:satisfaction of any economic want, unproductive when it is devoted to pleasures or luxuries . Its See also:place in the See also:science of economics, and its See also:close relation with production, are treated of in every See also:text-See also:book, but special reference may be made to W . See also:Roscher, Nationalokonomie, 1883, and G . Schonberg, Handbuch d. polit . Okonomie, 189o-1891 .

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