- marginal consumption
- • rajakulutus
English-Finnish dictionary. 2013.
marginal consumption
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Consumption smoothing — is the economic concept used to express the desire of people for having a stable path of consumption. Since Milton Friedman s permanent income theory (1956) and Modigliani and Brumberg (1954) life cycle model, the idea that agents prefer a stable … Wikipedia
Marginal propensity to consume — In economics, the marginal propensity to consume (MPC) is an empirical metric that quantifies induced consumption, the concept that the increase in personal consumer spending (consumption) occurs with an increase in disposable income (income… … Wikipedia
Marginal utility — In economics, the marginal utility of a good or service is the utility gained (or lost) from an increase (or decrease) in the consumption of that good or service. Economists sometimes speak of a law of diminishing marginal utility, meaning that… … Wikipedia
Marginal propensity to save — The marginal propensity to save (MPS) refers to the increase in saving (non purchase of current goods and services) that results from an increase in income i.e. The marginal propensity to save might be defined as the proportion of each additional … Wikipedia
Marginal cost — A typical marginal cost curve with marginal revenue overlaid In economics and finance, marginal cost is the change in total cost that arises when the quantity produced changes by one unit. That is, it is the cost of producing one more unit of a… … Wikipedia
consumption — /keuhn sump sheuhn/, n. 1. the act of consuming, as by use, decay, or destruction. 2. the amount consumed: the high consumption of gasoline. 3. Econ. the using up of goods and services having an exchangeable value. 4. Pathol. a. Older Use.… … Universalium
Consumption function — In economics, the consumption function is a single mathematical function used to express consumer spending. It was developed by John Maynard Keynes and detailed most famously in his book The General Theory of Employment, Interest, and Money. The… … Wikipedia
Marginal product — In economics and in particular neoclassical economics, the marginal product or marginal physical product of an input (factor of production) is the extra output that can be produced by using one more unit of the input (for instance, the difference … Wikipedia
Consumption Function — The consumption function is a mathematical formula laid out by famed economist John Maynard Keynes. The formula was designed to show the relationship between real disposable income and consumer spending, the latter variable being what Keynes… … Investment dictionary
Marginal Utility — The additional satisfaction a consumer gains from consuming one more unit of a good or service. Marginal utility is an important economic concept because economists use it to determine how much of an item a consumer will buy. Positive marginal… … Investment dictionary
Marginal rate of substitution — In economics, the marginal rate of substitution is the rate at which a consumer is ready to give up one good in exchange for another good while maintaining the same level of utility. Contents 1 Marginal rate of substitution as the slope of… … Wikipedia
