Aggregate consumer spending refers to the total amount of money spent on the purchase of goods and services by a country’s household. It is the aggregate of all consumption expenditures of individual households in the market.
People’s income can be used in two ways, such as consumption or savings. Aggregate consumer spending shows how much of the population’s income is used in the consumption of goods and services.
Remember: The process of learning a person lasts a lifetime. The value of the same knowledge for different people may be different, it is determined by their individual characteristics and needs. Therefore, knowledge is always needed at any age and position.