Instructions: Identify the Following

question 67

Essay

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term. H.L. Mencken

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Definitions:

Autonomous Consumption

The amount of consumption that occurs regardless of current income levels, reflecting basic spending needed to survive.

Saving

The portion of income not spent on consumption but kept aside for future use, which may be invested to generate wealth.

Disposable Income

The amount households can devote to saving and spending once income taxes have been factored in.

Savings

The portion of disposable income not spent on consumption of consumer goods but accumulated or invested.