News tagged with spending

Social giving makes us happier

People usually feel good when they make a charitable donation, but they feel even better if they make the donation directly to someone they know or in a way that builds social connection. Research to be published in the International Jo ...

Aug 20, 2013
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Pharma's niche focus spurs US aid for antibiotics

(AP) -- The pharmaceutical industry won approval to market a record number of new drugs for rare diseases last year, as a combination of scientific innovation and business opportunity spurred new treatments for diseases ...

Jan 25, 2012
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Poll: Health overhaul unpopular, but not as feared

(AP) -- Nearly two years after President Barack Obama signed landmark legislation to cover the uninsured, a new poll finds his health care overhaul is neither better liked nor better understood.

Mar 08, 2012
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AMA supports overhaul of Medicare doctors' pay

The American Medical Association says it strongly supports legislation that would change the way Medicare pays doctors, to emphasize quality care and not just sheer volume of services.

Feb 10, 2014
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Consumption (economics)

Consumption is a common concept in economics, and gives rise to derived concepts such as consumer debt. Generally consumption is defined by opposition to production. But the precise definition can vary because different schools of economists define production quite differently. According to some economists, only the final purchase of goods and services constitutes consumption, and every other commercial activity is some form of production. Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and marketing of goods and services (e.g. "the selection, adoption, use, disposal and recycling of goods and services").

Likewise, consumption can be measured by a variety of different metrics such as energy in energy economics . The total consumer spending in an economy is generally calculated using the consumption function, a metric devised by John Maynard Keynes, which simply takes the aggregate disposable income and multiplies it by a "marginal propensity to consume". This metric essentially defines consumption as the part of disposable income that does not go into savings. But disposable income in turn can be defined in a number of ways - e.g. to include borrowed funds or expenditures from savings.

This text uses material from Wikipedia licensed under CC BY-SA