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.
Read more about this topic: Government Spending
Famous quotes containing the words final, consumption and/or expenditure:
“All cries are thin and terse;
The field has droned the summer’s final mass;
A cricket like a dwindled hearse
Crawls from the dry grass.”
—Richard Wilbur (b. 1921)
“The Cairo conference ... is about a complicated web of education and employment, consumption and poverty, development and health care. It is also about whether governments will follow where women have so clearly led them, toward safe, simple and reliable choices in family planning. While Cairo crackles with conflict, in the homes of the world the orthodoxies have been duly heard, and roundly ignored.”
—Anna Quindlen (b. 1952)
“The putting into force of laws which shall secure the conservation of our resources, as far as they may be within the jurisdiction of the Federal Government, including the more important work of saving and restoring our forests and the great improvement of waterways, are all proper government functions which must involve large expenditure if properly performed.”
—William Howard Taft (1857–1930)