Spending, saving, borrowing
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7 Terms
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Consumption
When people consume those goods and services that provide them with more satisfaction or utility
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What does repeated consumption cause
Dissatisfaction
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What determines how much people spend
Disposable income
Household wealth
Interests rates
Consumer confidence
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How does interests rates affect spending
If there are high interests rates on deposits spending is low. If the interests rates are low spending is high
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What are some changes in consumer spending
Longer lifespan
Increasingly health conscious
New technologies
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Dissaving
Withdrawing savings to spend
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Saving
When consumers have their money in the bank and delay spending to a later date
Note 
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