Consumption in economics is defined as:

Consumption in economics specifically refers to the spending by households on goods and services. This encompasses a wide range of expenditures, including food, clothing, healthcare, entertainment, and housing services. By focusing on actual consumption, economists are able to analyze how households allocate their income and the impact this has on the economy as a whole.

Consumption is a critical component of aggregate demand, which drives economic activity. When households increase their spending, it can lead to higher demand for goods and services, stimulating production and potentially impacting employment levels. Understanding consumption helps economists assess economic performance and make predictions about future economic trends.

In contrast, other options such as the accumulation of savings or investments in stocks and real estate don't directly relate to the concept of consumption. Savings represent the portion of income that is not spent, while production of goods pertains to firms rather than households. Investing relates to capital markets rather than the immediate expenditure of households for goods and services. Thus, choice B accurately captures the essence of consumption in an economic context.