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Identify and explain the concept from the given illustration : Karuna's mother saves 1000/- every month out of her given salary. - Economics

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Question

Identify and explain the concept from the given illustration :

Karuna's mother saves 1000/- every month out of her given salary.

One Line Answer
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Solution

(A) Identified concept : Savings

(B) Explanation of concept : Savings can be defined as that portion of disposable income/ salary which is not spent currently on consuming goods or services.

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Chapter 1: Basic Concepts in Economics - Exercise Q.3 [Page 8]

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Balbharati Economics [English] Standard 11 Maharashtra State Board
Chapter 1 Basic Concepts in Economics
Exercise Q.3 | Q 4 | Page 8
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