What does induced consumption mean?
Definitions for induced consumption
in·duced con·sump·tion
This dictionary definitions page includes all the possible meanings, example usage and translations of the word induced consumption.
Wikipedia
Induced consumption
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. For instance, expenditure on a consumable that is considered a normal good would be considered to be induced. In the simple linear consumption function, C = a + b × Y d {\displaystyle C=a+b\times Y_{d}} induced consumption is represented by the term b × Y d {\displaystyle b\times Y_{d}} , where Y d {\displaystyle Y_{d}} denotes disposable income and b {\displaystyle b} is called the marginal propensity to consume.
Numerology
Chaldean Numerology
The numerical value of induced consumption in Chaldean Numerology is: 9
Pythagorean Numerology
The numerical value of induced consumption in Pythagorean Numerology is: 3
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"induced consumption." Definitions.net. STANDS4 LLC, 2024. Web. 28 Apr. 2024. <https://www.definitions.net/definition/induced+consumption>.
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