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Definition of “consumption function” - English Dictionary

"consumption function" in Business English

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consumption functionnoun [S]

uk   us  
ECONOMICS a way of ​calculating how the ​amount of ​money that ​peoplespend on ​goods and ​serviceschanges as their ​incomechanges: The ​consumptionfunction says that the ​amountpeoplespend depends on their ​income, and that as ​incomeincreases, so does ​consumption.
(Definition of consumption function from the Cambridge Business English Dictionary © Cambridge University Press)
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