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Consumption Function

The relationship between private consumption and personal disposable income is called consumption function. Symbolically,

             C = f(y)
Where C = Consumption expenditure,
             Y = Personal Disposable Income, and
             f = Function or depends upon.

It means that consumption expenditure depends upon the level of personal disable income. Consumer’s spending is related tot eh amount of income available. Consumption is directly related to money income. As income increases the consumption expenditure also increases.

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