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INDUCED SAVING: Household saving that depends on income or production (especially disposable, national income, or gross national product). An increase in household disposable income triggers an increase in induced saving. Induced saving is graphically depicted as the slope of the saving or propensity-to-save line, and is measured by the marginal propensity to save. The induced relation between income and saving, as well as induced expenditures, form the foundation of the multiplier effect triggered by changes in autonomous expenditures.
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AVERAGE COST: The opportunity cost incurred per unit in the production of a good. This can be calculated by dividing the total cost of production by the quantity of output produced. While average cost is a general term relating cost and the quantity of output, three more specific average cost terms that are worth a closer look are average total cost, average variable cost, and average fixed cost. As long as you're looking into cost, you might want to spend a little time with the most important member of the cost family of terms, marginal cost. See also | opportunity cost | production | good | quantity | average total cost | average variable cost | average fixed cost | total cost | marginal cost |
Recommended Citation:AVERAGE COST, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: September 14, 2026].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: average cost
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AUTONOMOUS CONSUMPTION Household consumption expenditures that do not depend on income or production (especially disposable income, national income, or even gross domestic product). That is, changes in income do not generate changes in consumption. Autonomous consumption is best thought of as a baseline or minimum level of consumption that the household sector undertakes in the unlikely event that income falls to zero. It is measured by the intercept term of the consumption function or the consumption line. The alternative to autonomous consumption is induced consumption, which does depend on income.
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PINK FADFLY
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Today, you are likely to spend a great deal of time at a garage sale wanting to buy either high-gloss photo paper that works with your printer or a desktop calendar with all federal and state holidays highlighted. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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