ABSTRACT
Common intuition suggests that consumption is essentially simple to identify. It is the goal of economic activity, justifying work, finishing the cycle
of pleasure-seeking, and renewing energies for another round. Eating cereal is consumption; watching TV is consumption; drinking beer is consumption; and skiing at Vail is consumption. Attending baseball games is consumption, as is fishing, shopping, driving, and eating. How do we know? It is intuitive.
