Current Use: Final Consumption Expenditure
Government acquisition of goods and services for current use to directly satisfy individual or collective needs of the members of the community is called government final consumption expenditure (GFCE.) It is a purchase from the national accounts "use of income account" for goods and services directly satisfing of individual needs (individual consumption) or collective needs of members of the community (collective consumption). GFCE consists of the value of the goods and services produced by the government itself other than own-account capital formation and sales and of purchases by the government of goods and services produced by market producers that are supplied to households - without any transformation - as "social transfers" in kind.
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Famous quotes containing the words final, consumption and/or expenditure:
“The final purpose of art is to intensify, even, if necessary, to exacerbate, the moral consciousness of people.”
—Norman Mailer (b. 1923)
“What happens is that, as with drugs, he needs a stronger shot each time, and women are just women. The consumption of one woman is the consumption of all. You can’t double the dose.”
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“War-making is one of the few activities that people are not supposed to view “realistically”; that is, with an eye to expense and practical outcome. In all-out war, expenditure is all-out, unprudent—war being defined as an emergency in which no sacrifice is excessive.”
—Susan Sontag (b. 1933)