Consumption Function | APC| MPC| Psychological law of Consumption| APS|MPS I Propensity to Consume|
Автор: eco tutorials
Загружено: 2026-01-04
Просмотров: 29
Описание:
A consumption function is a core Keynesian economic concept showing the direct relationship between a household's disposable income and its planned spending (consumption), expressed as C = a + bYd, where 'C' is total consumption, 'a' is autonomous consumption (spending even with zero income), 'b' is the Marginal Propensity to Consume (MPC), and 'Yd' is disposable income. It explains how much people spend versus save as income changes, with the MPC indicating the fraction of extra income spent, guiding fiscal policy and economic analysis.
The lecture provides an in-depth study of the concept
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