Economics
JAMB 2019
An economy in which the whole income is not consumed is referred to as______
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A.
Frugal economy
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B.
Spend thrift economy
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C.
Capitalist economy
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D.
Mixed economy
Correct Answer: Option A
Explanation
A frugal economy is 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
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