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  • 17-09-2020
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What does income induces mean in economics

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lavishlyspoiled
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  • 17-09-2020

Answer:

Induced consumption is the portion of consumption that varies with disposable income. When a change in disposable income “induces” a change in consumption on goods and services, then that changed consumption is called “induced consumption”. In contrast, expenditures for autonomous consumption do not vary with income.

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