True

Explanation:

Pvt final consumption expenditure refers to the consumption expenditure by households. It is the total value of goods and services consumed by private individuals and households. This includes all purchases of goods and services for personal use, such as food, clothing, housing, transportation, recreation, and healthcare. In essence, it is the value of all final goods and services that are consumed by households.

The concept of pvt final consumption expenditure is important because it is a major component of GDP (Gross Domestic Product), which is a measure of the economic activity of a country. It is used to assess the overall health of the economy and to determine the level of economic growth.

There are two types of consumption expenditure - pvt final consumption expenditure and government final consumption expenditure. The former refers to the consumption expenditure by households, while the latter refers to the consumption expenditure by the government.

In conclusion, pvt final consumption expenditure refers to the consumption expenditure by households. It is an important concept in economics as it is used to determine the economic growth of a country and assess the overall health of the economy.