Into the future this utility from consumption is discounted at some rate ' Ï ' the rate of time preference for a given individual. Higher values for this rate of time preference imply less satisfaction from future consumption relative to current consumption spending.
Waste products are usually excreted by the kidneys. High levels of waste products in the blood may mean that the kidneys are not working as they should.
What are 'Consumer Goods'. Consumer goods are products that are purchased for consumption by the average consumer. Alternatively called final goods, consumer goods are the end result of production and manufacturing and are what a consumer will see on the store shelf. Clothing, food and jewelry are all examples of consumer goods.