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Introduction

14.1 Total final consumption expenditure in the economy may be viewed from two perspectives. It may be defined as the total value of all expenditures on individual and collective consumption goods and services incurred by resident households, resident non-profit institutions serving households (NPISHs) and general government units. Alternatively, it may be defined in terms of actual final consumption, as the value of all the individual goods and services acquired by resident households, plus the value of the collective services provided by general government to the community or large sections of the community. The coverage of the goods and services is the same in both cases.