consumption function
1consumption function — conˈsumption ˌfunction noun [singular] ECONOMICS a measure of the changes in the way that consumers spend money on goods and services when there are changes to their income * * * consumption function UK US noun [S] ► ECONOMICS a way of… …
2Consumption function — In economics, the consumption function is a single mathematical function used to express consumer spending. It was developed by John Maynard Keynes and detailed most famously in his book The General Theory of Employment, Interest, and Money. The… …
3consumption function — ▪ economics in economics, the relationship between consumer spending and the various factors determining it. At the household or family level, these factors may include income, wealth, expectations about the level and riskiness of future… …
4Consumption Function — The consumption function is a mathematical formula laid out by famed economist John Maynard Keynes. The formula was designed to show the relationship between real disposable income and consumer spending, the latter variable being what Keynes… …
5consumption function — function expressing financial capacity to consume …
6consumption function — noun : a function relating the level of consumer expenditures to national income originally believed to be a constant but subsequently held to fluctuate under various conditions …
7Consumption smoothing — is the economic concept used to express the desire of people for having a stable path of consumption. Since Milton Friedman s permanent income theory (1956) and Modigliani and Brumberg (1954) life cycle model, the idea that agents prefer a stable …
8Consumption — may refer to: Economics Use of final goods by a consumer until disposal Consumption (economics) Consumption function, an economic formula Consumption (ecology) Other Consumption, an archaic name for pulmonary tuberculosis ingestion of food and… …
9consumption — /keuhn sump sheuhn/, n. 1. the act of consuming, as by use, decay, or destruction. 2. the amount consumed: the high consumption of gasoline. 3. Econ. the using up of goods and services having an exchangeable value. 4. Pathol. a. Older Use.… …
10Consumption (economics) — Economics …
