DETERMINANTS OF HOUSEHOLD CONSUMPTION OF CHATTOGRAM CITY: AN ECONOMETRIC ANALYSIS
DOI:
https://doi.org/10.61421/IJSSMER.2024.2605Keywords:
Gross Domestic Product, Investment income, Households, Consumption, Education, Savings, Disposable IncomeAbstract
This study aims to explore the various determinants that could impact household consumption. This paper seeks to uncover the relationship between multiple dimensions and consumer spending, shedding light on critical factors influencing consumption patterns. A sample of 360 responses was collected from consumers in different areas in Chattagram. Following the quantitative research methodology, the data were collected using simple random sampling. A questionnaire was used to collect the data by using depth interviews. Multiple regression analysis assessed the factors impacting household consumption expenditure in Chattagram City. The findings reveal that income, age, household size, education level, gender of the household head, savings, and investment significantly contribute to the household monthly consumption expenditure of Chattagram city. The result also shows that the more the investment income, the more the consumption expenditure. This study will aid policymakers in identifying the key factors that significantly influence household consumption and in formulating effective policies to boost household consumption, thereby driving economic growth in the economy.
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