Q. 5

Elucidate the relevance of the concept of moderate consumption and co-consumption in context to present time.

Answer :

Moderate consumption

1. According to Atharvaveda, a man should own as much as he can to feed himself and his family.


2. According to the Vedic literature, a person should have a minimum and restrained consumption of the money earned by himself to fulfill its needs. If he consumes more than this, he will be punished.


3. According to many ancient Indian thoughts, a person should earn money only by honest means and should not earn more than his needs.


4. It is also mentioned which goods should be consumed and which goods should not be consumed.


5. According to Chanakya moderate consumption is beneficial for health.


6. For the social welfare of the society, one must consume the goods and services as a gift of God and should not regard it as his own right over goods and services.


Co-consumption


1. According to Vedic literature, a person should consume the goods by sharing them among each other in society and not only for himself.


2. The consumption should be based only on equality and welfare.


3. According to Rigveda, a person who feels himself only without feeding the hungry, friends, servants, guests, animals, birds is a sinner.


4. According to the Western economic system, maximum consumption is a symbol of maximum satisfaction.


5. According to the Indian economic thought, the achievement of satisfaction is to be calculated by consuming the acquired money through distributing it generously.


6. The entire world is to be considered as one community with people of high character. The concept of consumption promotes equality and welfare for all. It reduces the gap between the rich and the poor and reduces the unequal distribution of income.


Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Related Videos
Let's Check Your Economics Knowledge-Rapid RevisionLet's Check Your Economics Knowledge-Rapid RevisionLet's Check Your Economics Knowledge-Rapid Revision47 mins
Speed and VelocitySpeed and VelocitySpeed and Velocity59 mins
Wren and Martin | GrammarWren and Martin | GrammarWren and Martin | Grammar44 mins
Antibiotics and VaccinesAntibiotics and VaccinesAntibiotics and Vaccines39 mins
Disease and its TypesDisease and its TypesDisease and its Types44 mins
Foundation | Permutation and CombinationFoundation | Permutation and CombinationFoundation | Permutation and Combination44 mins
Champ Quiz | Mixtures and their ClassificationChamp Quiz | Mixtures and their ClassificationChamp Quiz | Mixtures and their Classification30 mins
Quiz | Median and ModeQuiz | Median and ModeQuiz | Median and Mode29 mins
Changes: Type and CharacteristicsChanges: Type and CharacteristicsChanges: Type and Characteristics48 mins
Vulcanism and EarthquakesVulcanism and EarthquakesVulcanism and Earthquakes37 mins
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
caricature
view all courses
RELATED QUESTIONS :

Write the merits of mixed economy.

Rajasthan Board - Social Science

What is socialist economy?

Rajasthan Board - Social Science

Mention an example of producer and product.

Rajasthan Board - Social Science

Define consumption with example.

Rajasthan Board - Social Science

Mention the name of factors of production.

Rajasthan Board - Social Science