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Determination of Income and Employment — Economics STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceEconomicsDetermination of Income and Employment1 Mark
Question
What is propensity to consume?
OR
What is consumption function?
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Answer

The relationship between consumption and income is called propensity to consume or consumption function. Symbolically, C = f(Y).

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