ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The part of income not spent is called saving. We know, income in economics is the summation of consumption expenditure and saving. Thus the part of the income which is not spent for consumption expenditure, it is known as saving.

Detailed explanation-2: -Savings is the portion of current income not spent on consumption.

Detailed explanation-3: -Disposable Income. A Marker of Economy Health.

Detailed explanation-4: -Income = Consumption + Savings The largest part of total spending is consumption. C = f (Y) If income increases, consumption also increases BUT not as quickly as income. S = f (Y) If income increases, savings also increase BUT at the higher rate than income.