GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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MPC stand for
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Marginal Propensity to Consume
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Magical Proportion of Consumption
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Marginal Potential to Consume
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Marginal Propensity of Consumers
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Explanation:
Detailed explanation-1: -In economics, the marginal propensity to consume (MPC) is defined as the proportion of an aggregate raise in pay that a consumer spends on the consumption of goods and services, as opposed to saving it.
Detailed explanation-2: -Answer: Marginal propensity to consume refers to the ratio of change in the consumer’s expenditure due to the change in disposable income (income after deducting taxes). In other words, MPC measures how consumption will vary with the change in income.
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