उपभोग फलन क्या है? उन कारकों की चर्चा करें जिस पर उपभोग फलन निर्भर कर देता है
What is consumption function? Discuss the factors on which the consumption func
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The consumption function or the propensity to consume is not static and there are various factors influencing it for a change. Though in the short period, the propensity to consume will not change — as the spending habit of the society docs not change quickly — in a dynamic society, factors will be always operating to make the condition unstable.
We shall discuss some of the important factors that influence the consumption function. Since saving is a complement of consumption, factors influencing consumption will be automatically affecting savings as well.
The causes governing consumption function can be classified into:
- Subjective factors and
- Subjective factors andObjective factors.
The former is called psychological factors by Keynes who lists about eight motives which lead individual to refrain from spending out of their incomes.