An economy in which the whole income is not con... - JAMB Economics 2019 Question
An economy in which the whole income is not consumed is referred to as______
A
Frugal economy
B
Spend thrift economy
C
Capitalist economy
D
Mixed economy
correct option: a
An economy in which the income is shared between consumption and saving or consumption and investment i.e
γ = c + s or γ = C + I
It is known as frugal economy.
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