Which component of consumption spending is the greatest in a typical economy?

Question

Quizplus · Accepted Answer

In a typical economy, the greatest component of consumption spending is services. This includes things like healthcare, entertainment, education, transportation, and more. While durable goods and nondurable goods are also important components of consumption spending, they are typically not as large as services. New housing, while important, is not technically considered part of consumption spending as it falls under investment spending.

Which Component of Consumption Spending Is the Greatest in a Typical