Examlex
Likert scales present an individual with scalar dimensions along which they are to rate their attitudes and ideas. A teacher, for example, might be asked to rate students on the degree to which the behaviour of each reflects leadership capacity, shyness, or creativity. Peers might rate each other along dimensions such as friendliness, trustworthiness, and social skills. Several standardized, printed rating scales are available for describing the behaviour of psychiatric hospital patients. Rating scales are one way of gathering personality data using the
APS
Average Propensity to Save; the proportion of income that an individual or population saves rather than spending on consumption.
Consumption Function
As income rises, consumption rises, but not as quickly.
John Maynard Keynes
A British economist whose theories on government intervention in economies (Keynesian economics) have greatly influenced modern macroeconomic policies, particularly regarding the use of fiscal and monetary measures.
Karl Marx
A 19th-century philosopher, economist, and political theorist known for his critique of capitalism and the development of Marxist theory.
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