Asked by
Andrea Umali
on Nov 11, 2024Verified
If consumption is greater than income,saving must be negative.
Consumption
The action of using goods and services to fulfill needs or desires; usually the largest component of GDP.
Saving
The portion of income not spent on current expenditures or consumables, often put aside for future use or investments.
- Comprehend the relationship between consumption, saving, and income.
Verified Answer
CS
Learning Objectives
- Comprehend the relationship between consumption, saving, and income.