Whats the connection between Income and Consumption?

[btaliat]

There is always a good synergy between income and consumption. As most time, consumption is determined by the income. Many people don't have much left for saving because they consume equivalent to what they have as income and some are in debt because they spend beyond their income.

 

[Wiserr]

the connection is very clear. when you earn much you spend much. I get to realize that most people that earns enough also spends enough. this the clear connection between spending and earning.

 

[jay]

The connection between Income and Consumption is frequently called a consumption schedule. It is utilized to depict monetary patterns in the household sector. When there is more cash or expectation of income, more merchandise are bought by customers. Which means cash is spent on uses, now and again, regardless of whether there isn't sufficient income to cover them. This is a typical financial principle used to portray spending patterns for public and world economies. A business ought to consider the connection among consumption and investment funds to separate information on buyer's patterns inside its own industry.

It is actually your income that you can be able to consume or spend when you must have received it either from your business proceed or your salary which you get from working or carrying out your business activities.

 

[Elfinito]

You havevto calculate your total income and what you consume on monthly basis if you really want to succeed.
You cannot be consuming $200 in a month when your total earning is $150 in a month, you'll be in debt

 

[Thinker009]

To me there is actually a big difference in income and consumption , because in income you are actually going to make get more benefit and it's not an expenses ,but consumption you are spending more for something

 

[Kaffyfolla]

The difference between income and consumption is used to define the consumption schedule. When income grows, disposable income rises and thus consumers buy more goods. The result is an increase in the consumption of major purchases and non-essential goods.

 

[Good-Person]

In economics,once there is a huge flow of money in circulation,there will be a huge rise in the amount of goods bought. This is because when people receive their income,money available to be spent is increased and thus, consumption rate increases. Income and consumption work hand in hand.

I think income refers to actual cash that can be spent or used to bear expenses. Whereas consumption refer to entire expenses that are conducted using the income. What do you think?

 

[Shigobad20201]

The connection between Income and Consumption is frequently called a consumption schedule. It is utilized to depict monetary patterns in the household sector. When there is more cash or expectation of income, more merchandise are bought by customers. Which means cash is spent on uses, now and again, regardless of whether there isn't sufficient income to cover them. This is a typical financial principle used to portray spending patterns for public and world economies. A business ought to consider the connection among consumption and investment funds to separate information on buyer's patterns inside its own industry.

This topic is purely economics , and in my own opinion and definition, consumption schedule is the connection that link income and consumption together in the sense that the money you make is the income and the one you spent out of the income is the consumption schedule.

 

[Heatman]

To the best of my knowledge, income is that which comes in for you in turn for your labour. Consumption are the things the power to purchase can acquire. The gap in between the is the need.

The clear relationship between income and consumption is that you will always have an income earned before you can be able to consume them as expenses.

 

[jay]

To the best of my knowledge, income is that which comes in for you in turn for your labour. Consumption are the things the power to purchase can acquire. The gap in between the is the need.

There is no way you can be able to pay for expenses without having to make money first which shows the relationship between income and consumption because income helps you to make money while expenses helps you to consume money.

 

[Smiles20]

The income is the total amount of money that you have been paid for your products or services in your business. The total consumption is the amount of money that you are using to rule the business and also to create new product.

 

[Godspower]

There is always a good synergy between income and consumption. As most time, consumption is determined by the income. Many people don't have much left for saving because they consume equivalent to what they have as income and some are in debt because they spend beyond their income.

In order to maintain financial prudency and discipline, it is important to for consumption to always be less than the income. At least a portion of the income should be kept as savings.

 

[Heatman]

The relationship between income and consumption is quite slick. Economics thought teaches that the higher the income that you earn ,the higher your consumption level increases.

As long as you are making money you will always have the money to take care of your expenses which is what shows the connection between income and consumption in the world today.

 

[jay]

The relationship between income and consumption is quite slick. Economics thought teaches that the higher the income that you earn ,the higher your consumption level increases.

Income and profit are actually the first thing that you're going to make in other for you to be able to consume anything which is regarded as business expenses.

 

[Alexandoy]

In between the income and consumption is us. That is where we stand. When the income is less than the consumption then the balance is tilted to the negative while vice versa the balance is tilted to the positive. This is now my problem because I have no more income but my consumption is continuing.

 

[Psalmseen]

There's connection between one's income and consumption of course. One's income form part of savings and consumption. It's from one's income that you spend, that is, you consume. If there's no basic income, might be difficult.

 

[Heatman]

Consumption is directly proportional to income. The more you earn, the more you buy, similarly, your consumption depends on your level of income. However, some people spend more than their means and end up with a deficit.

This is actually true what you mentioned about consumption being directly proportional to income because it is when you make more money through your income that you can be able to consume the money that you have made.

 

[jay]

The relationship between income and consumption is quite slick. Economics thought teaches that the higher the income that you earn ,the higher your consumption level increases.

Seriously, I believe that this is something that is very common because when you tend to have more money on you you will definitely be pushed to spend more money on something.

 

[Godspower]

Seriously, I believe that this is something that is very common because when you tend to have more money on you you will definitely be pushed to spend more money on something.

You have made a good point. Expenditure is bound to increase with increased income, but you should try to maintain a good savings culture and try to cut down on frivolous expenses.

 

[Psalmseen]

There's a huge connecting between income and consumption.. Income forms both your consumption and savings. Consumption can simply be referred to as that part of income that's available for spending. So there's a definite connection between the two