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Definition: Individual consumption good or service


An individual consumption good or service is one that is acquired by a household and used to satisfy the needs and wants of members of that household.

This definition is used both in SNA 1993 (§ 9.42) and in SNA 2008 (§ 9.3). United Nations, "System of National Accounts (SNA) 1993", United Nations, New York, 1993
European Commission (Eurostat), International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), United Nations (Statistics Division), World Bank, "System of National Accounts 2008", United Nations, New York, 2009