QUESTION TEXT: The obsession of economists with consumption …
QUESTION TYPE: Identify the Conclusion
CONCLUSION: Economic well-being cannot be properly understood if it is measured solely by consumption.
REASONING: Many forms of consumption don’t provide much satisfaction.
ANALYSIS: The first sentence gives us the main point, and the second sentence explains why.
The point is that consumption alone cannot capture economic well-being. Why? Because we don’t get much satisfaction from many things that count as consumption.
___________
- CORRECT. This is the main point. It doesn’t go as far as attacking consumption itself, only the idea that consumption alone measures well-being.
- Out of scope. The author never discusses whether satisfaction can exist without consumption.
- There’s no claim that consumption is difficult to measure. The complaint is that consumption is the wrong measure of well-being.
- The examples involve products wearing out, but the author never suggests this is intentional.
- Too strong. The author does imply satisfaction may be more relevant than consumption, but never claims it is an adequate quantitative measure.
More Resources for Identify the Conclusion Questions
- Intro Course lesson: This intro course lesson covers Identify the Conclusion questions.
- Mastery Seminar lesson: This LR Mastery seminar lesson covers identify the conclusion questions.

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