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Define Marginal Propensity to Save. - CBSE (Arts) Class 12 - Economics

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Question

Define marginal propensity to save.

Solution

Marginal propensity to save refers to the ratio of change in saving to change in total income.

`MPS = "Change in saving(ΔS)"/"Change in income(ΔY)"`

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Solution Define Marginal Propensity to Save. Concept: Consumption Function and Propensity to Save.
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