Consumption is regarded as the be-all and the end-all of all economic activity. Want is thus the beginning and its satisfaction the end of our economic effort. The goods have reached their final destination, e.g., wearing a shirt or eating a mango or using furniture, in which case the act of consumption is not a single process but is of a continuing nature. Consumption, thus, involves expenditure of income or wealth-using activity of man.Ĭonsumption is known as direct or final consumption, when the goods satisfy human wants directly and immediately. Milk, food and other goods that we consume cannot be had free we must pay for them. For practical purposes, consumption means the spending of money income. If no want has been satisfied, it is not consumption. The emphasis is on the satisfaction of wants rather than on the destruction of utility. Consumption implies the satisfaction of a human want. If a house catches fire and is destroyed, it has not been ‘consumed’ in the economic sense. But mere destruction of utility does not mean consumption. In both cases, utility or want-satisfying power is being destroyed. Or it may be a prolonged and slow process as in the case of furniture. The destruction of utility in consumption may be quick and immediate as in the case of a mango or a glass of milk. In other words, man has destroyed its utility in the act of eating it. Formerly, it could satisfy a human want, i.e., it possessed utility now that want-satisfying power is gone. When a man eats, a mango, he does not destroy the matter of which it is composed he has only changed its form. Matter is there in the world, it will remain there man can only change its form. Man cannot create matter nor can he destroy it. Thus consumption deals with the satisfaction of wants.Ĭonsumption has also been defined as destruction of utility: It deals with wealth-using activities of man as distinguished from wealth-getting activities, which are dealt with in Production. Whenever we make use of any commodity or service for the satisfaction of our wants, the act is called consumption. While sitting on chairs in the class-room, the students are consuming the chairs. When we take a glass of water to quench our thirst, we are said to consume water. Hence, consumption means using up of utilities. Furthermore, the results suggest that in CC an attitude-behavior gap might exist people perceive the activity positively and say good things about it, but this good attitude does not necessary translate into action.When we use a commodity, we really use its want-satisfying quality or utility. This suggests that sustainability might only be an important factor for those people for whom ecological consumption is important. An interesting detail in the result is that sustainability is not directly associated with participation unless it is at the same time also associated with positive attitudes towards CC. The results show that participation in CC is motivated by many factors such as its sustainability, enjoyment of the activity as well as economic gains. The study employs survey data ( N = 168) gathered from people registered onto a CC site. Therefore, in this article we investigate people's motivations to participate in CC. However, beyond anecdotal evidence, there is a dearth of understanding why people participate in CC. CC has been expected to alleviate societal problems such as hyper-consumption, pollution, and poverty by lowering the cost of economic coordination within communities. Information and communications technologies (ICTs) have enabled the rise of so-called “Collaborative Consumption” (CC): the peer-to-peer-based activity of obtaining, giving, or sharing the access to goods and services, coordinated through community-based online services.
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