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July 18, 2025 

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HOMOGENEOUS GOOD: Goods that are either physically identical or at least viewed as identical by buyers. In particular, the producer of a good can not be identified from the good itself. This is a key assumption underlying the perfect competition market structure, and like other assumptions is only approximated in the real world. Agricultural products, metals, and energy goods come as close as any in the real world.

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CONSUMPTION: The use of resources, goods, or services to satisfy wants and needs. At the microeconomic level, consumption is primarily analyzed in the context of utility, demand and their importance to market exchanges. At the macroeconomic level, consumption is most important as expenditures by the household sector on gross domestic product, one of four aggregate expenditures (the other three being investment, government purchases, and net exports).

     See also | satisfaction | household sector | resources | goods | services | wants | needs | utility | demand | market | personal consumption expenditures | aggregate expenditures | investment expenditures | government purchases | net exports | production | pollution | materials balance | circular flow |


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CONSUMPTION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 18, 2025].


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INJECTIONS

Non-consumption expenditures on aggregate production. The three aggregate expenditures grouped under the heading of injections are investment expenditures, government purchases and exports. Injections add to the core circular flow containing consumption, production, and income. The injections-leakages model is a Keynesian economics analysis that combines injections with leakages (saving, taxes, and imports) to identify the equilibrium level of aggregate production and income.

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