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    What is Consumption?

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    What is consumption? Provide 3 examples of something you have "consumed" recently and illustrate the concept of consumption with each example.

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    In basic terms, consumption is an economics and marketing term relating to the process of utilization of goods and services. Consumption is generally divided into two groups; needs and wants. Each plays a different role in defining how an individual approaches a product or service. Let's look at three examples of 'consumed' products and ...

    Solution Summary

    The expert determines what consumption is.