Question

define four theories of consumption function​

Answer 1

Answer:

The consumption function, or Keynesian consumption function, is an economic formula that represents the functional relationship between total consumption and gross national income. It was introduced by British economist John Maynard Keynes, who argued the function could be used to track and predict total aggregate consumption expenditures.

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Answer 2

Answer:

The consumption function, or Keynesian consumption function, is an economic formula that represents the functional relationship between total consumption and gross national income.

The three most important theories of consumption are as follows: 1. Relative Income Theory of Consumption 2. Life Cycle Theory of Consumption 3. Permanent Income Theory of Consumption.