Final answer:
The statement relates to division and specialization of labor in economics, where individuals and societies produce and consume different goods or services.
Step-by-step explanation:
The statement, "Most people consume little of what they produce and produce little of what they consume," relates to the concept of division and specialization of labor in economics. This idea suggests that individuals and societies are more productive and efficient when they specialize in producing certain goods or services and then trade with others to obtain the goods or services they need but do not produce themselves.
In pioneer days, individuals might have needed to know how to do a wide range of tasks from building their own homes to growing and hunting their own food. However, in modern economies, thanks to specialization, individuals can focus on a specific skill or product, which they can then trade for the other goods and services they require. This allows for economies to maximize the use of limited resources by encouraging productivity and providing a greater diversity of products than would be possible if everyone produced all that they consumed.