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Pricing and Retail Definitions for eCommerce

Willingness to consume

Category/tag: Consumer Behaviour

Added 19.09.2022

The term "consumption" comes from Latin, which means to consume and to use as well as to consume. Generally speaking, the term consumption refers to the consumption of goods. In the economic context, consumption specifically means the selection, purchase, use and consumption of goods and services. Goods are understood to be any means that can be used to satisfy human needs. The people who consume are called consumers. Thus, the willingness to consume describes the consumer's willingness to acquire goods to enable his or her satisfaction of human needs.