Economis: Consumption Pattern

In: Business and Management

Submitted By SalmanK
Words 1134
Pages 5
Consumption pattern comparative study high income vs low income.
Background:
Consumption Pattern
The combination of qualities, quantities, acts and tendencies characterizing a community or human group’s use of resources for survival, comfort and enjoyment is called consumption pattern.
Consumption pattern is not objective it is subjective. The consumption pattern changes according to the wants and needs of a person. The type of wants decides the consumption pattern. The general consumption pattern fulfils the basic need and then moves towards to the luxury. Consumption patterns are one of the most important drivers of development patterns in the industrialized world and will serve as case for the study of scenarios and transition management. What will be addressed here is less households’ consumption of a specific commodity or service such as transportation or food, than the structure, function and meaning of the consumption patterns that characterize the different lifestyles that coexist in our affluent, liberal, democratic and capitalist societies. While the concept of “consumption pattern” is omnipresent in sustainable development literature since its appearance in Agenda 21, it is generally left undefined as if it is not necessary to be more explicit about it. Here we will define a consumption pattern as that aspect of a lifestyle that relates to the Food, transport, Housing and utility, Medical, entertainment and savings.
This report presents the income of the people and their expenditures. In this report, we have collected information about the income of ten peoples (five high income and five low income people) and their expenditures that how they consume their income. Expenditures in different categories are as follows: * Food * Transport * Housing and Utilities * Medical * Entertainment * Savings…...

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