Definition: Total final consumption

Category: SNA

Total final consumption (TFC) in the economy may be viewed from two angles. It may be defined from the expenditure side as the total value of all expenditures on individual and collective consumption goods and services incurred by resident households, resident NPISHs and general government units. Or, 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 and NPISHs to the community or large sections of the community.

This definition is used both in SNA 1993 (§ 9.98) and in SNA 2008 (§ 9.119). http://ec.europa.eu/eurostat/ramon/statmanuals/files/SNA2008.pdf United Nations, "System of National Accounts (SNA) 1993", United Nations, New York, 1993