Autonomous Consumption Is the Level of Consumption That Is

question 191

Multiple Choice

Autonomous consumption is the level of consumption that is

• A) consistent with the average standard of living.
• B) observed at the poverty line.
• C) independent of real income.
• D) available to someone earning the minimum wage.

---

Definitions:

Prompt Payment

The act of settling a financial obligation on or before its due date.

Sales Returns

Transactions involving the return of sold goods from the customer to the seller, often resulting in a refund or credit.

Credit Sales

Sales made by a business where payment is delayed as per agreed terms.

Inferior Merchandise

Goods that are of lower quality than the standard expected by consumers, often resulting in reduced customer satisfaction.