The book Lecture Notes On Economics And Politics was written by author David Jayne Hill Here you can read free online of Lecture Notes On Economics And Politics book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Lecture Notes On Economics And Politics a good or bad book?
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1. DEFINITION OF CONSUMPnoX. Consumption, in its econornic sense, is the destruction of val- ue. It is not necessarily the destruction of commodities or sub- stances or of their qualities. It is not necessarily such a destruc- tion of value that a new value may not ai-ise from it. It is, how- ever, a destruction of an existing form of value for a variety of ends which will be noticed farther on The end of all produc- tion is some use to which the thing produced may be put, and when it is used i...t is said to be consumed. It may reappear in other forms, but in losing its present form there is destruction of value. 2. VARIETIES OF CONSUMPTION. Consumption, or destruction of value, is an unceasing pro- cess and is in part the result of natural forces and their laws. If men were to fold their hands and remain idle, certain values would be destroyed. There is, then, what may be called Innol- untary Consutnption. But men are constantly using commodi- ties for various pur])oses of their own, according to their own wills.
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