HSC Science (Electronics) 12th Board ExamMaharashtra State Board
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Solution for Define Or Explain the Following Concept.Autonomous Consumption. - HSC Science (Electronics) 12th Board Exam - Economics

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Question

Define or explain the following concept.

Autonomous Consumption.

Solution

Autonomous Consumption.

(i) Consumption is that part of income which is spent on purchasing goods and services. Autonomous consumption refers to the types of consumption which is independent of income. It is income inelastic.

(ii) Autonomous consumption can never be zero. Even at a zero income level, there is some positive autonomous consumption.

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APPEARS IN

 2016-2017 (March) (with solutions)
Question 2.1.5 | 2.00 marks
Solution Define Or Explain the Following Concept.Autonomous Consumption. Concept: Consumption Function and Propensity to Save.
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