The decisions made by individuals or households regarding the purchase of goods and services for personal use.
Related terms
Consumerism: A social and economic order that encourages the acquisition of goods and services in ever-increasing amounts.
Planned obsolescence: A strategy used by companies to design products with a limited lifespan so that consumers will need to replace them more frequently.
Sustainable consumption: The idea of using resources efficiently and responsibly to meet present needs without compromising future generations' ability to meet their own needs.