Underconsumption

Part of speech: noun

Definitions

1. A condition exists when consumers do not acquire enough products or services for optimal economic activity
2. A situation in economic systems where the level of consumer purchasing is too low to sustain full economic growth
3. An economic state characterized by consumers buying fewer goods and services than the economy can produce, leading to slowed expansion

Etymology: "Underconsumption" is a plain compound: the prefix "under-" joined to "consumption." The prefix comes from Old English, where it meant "below" or "beneath" and also carried the sense of "too little," as in "underfed" or "undercook." Its ancestry runs back to the same Proto-Germanic root that gave English "under" in its spatial sense. The second part has a longer journey. "Consumption" traces to Latin "consumptio," from "consumere," meaning "to take up entirely" or "to use up," built from "con-" (intensive, "altogether") and "sumere" ("to take"). Latin "consumptio" passed into Old French as "consumpcion" and reached Middle English as "consumpciown" before settling into the modern form. Long before it meant anything economic, the root idea was simply taking something all the way until nothing remained. Put together, "underconsumption" describes consumption falling short of what is needed or expected, a sense that fits the economic vocabulary built on the older meaning of consumption as using up goods.

Synonyms: deficiency, scarcity, lack, insufficiency

Antonyms: overconsumption, abundance, plenty