Question

Discuss productive Vs. consumption theory. Give 3 Rs of credit.

Answer 1

Productive theory : The marginal revenue productivity theory of wages is a theory in neoclassical economics stating that wages are paid at a level equal to the marginal revenue product of labor, MRP, which is the increment to revenues caused by the increment to output produced by the last laborer employed.

Consumption : Theories of consumption. This theory was postulated by Keynes. According to this hypothesis, consumption depends on the current level of disposable income. Disposable income refers to the total amount of income available for use by households or the after tax personal income.

Answer 2

Answer:

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