use of goods and services

Found in Anh - Anh (Wordnet)

Definition Noun 1. (Economics) The act of utilizing economic goods and services to satisfy human needs or wants, or as inputs in the manufacturing process. This term refers to the process of using up goods and services, which is synonymous with consumption in economic contexts. It measures the flow of products and services purchased or used by households, governments, and firms. Usage This is a...