6 differences bwtween autonomous and induced consumption.
Dear student,
Autonomous consumption is one which does not depend on real income or GDP while induced consumption is one which depends on real income or GDP.
Autonomous consumption does not vary with level of income while Induced consumption varies with level of consumption.
Autonomous consumption occurs even if income is nil, induced consumption does not occur when level of income is nil.
Regards
Autonomous consumption is one which does not depend on real income or GDP while induced consumption is one which depends on real income or GDP.
Autonomous consumption does not vary with level of income while Induced consumption varies with level of consumption.
Autonomous consumption occurs even if income is nil, induced consumption does not occur when level of income is nil.
Regards