Household Consumption

question 101

Multiple Choice

Household consumption:

• A) only accounts for about 20 per cent of total GDP.
• B) is the largest single component of GDP.
• C) accounts for around 80 per cent to 85 per cent of total GDP each year.
• D) is the smallest component of GDP.

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Definitions:

Robotic Assembly Line

Automated manufacturing processes in which robots and machinery assemble parts and products with minimal human intervention.

Self-Checkout Lines

Automated systems in retail environments that allow customers to scan, bag, and pay for their purchases without human assistance.

Gini Index Scores

A measure of income inequality within a population, ranging from 0 (perfect equality) to 1 (perfect inequality).

Symbolic Interactionism

A sociological perspective that emphasizes the role of symbols and language as core elements of all human interaction.