They do not constitute a form of fundamentalism, but an essential tool of the social sciences. PRODUCTION AND CONSUMPTION “Consumption is the only end and goal of all production; and the interest of the producer should be taken into account only so far as may be necessary to promote that of the consumer” (Smith, 1776: 363). This statement by Adams is an obvious statement of fact. If a product at the end of production has no consumer, there is actually no need to produce the good or service. According to BusinessDictionary.com, “production refers to the processes and methods used to transform tangible inputs (raw materials, semi-finished products). (finished products, subassemblies) and intangible inputs (ideas, information, knowledge in goods or services. Resources are used in this process to create a product suitable for use or having an exchange value). "Consumption is the process in which the substance of a thing is completely destroyed, exhausted, incorporated or transformed into something else. Consumption of goods and services is the quantity of them used during a period of given time.