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12 September, 16:19

Define the term savings as it is used in economics.

a. income that is not used for consumption

b. money that is spent during a depression

c. revenue that is stored for later consumption

d. profit that is used for capital deepening

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  1. 12 September, 18:08
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    Savings in economics is consuming less out of a given amount and preserve for more future consumption. Therefore, the answer to the question is C. It is a revenue that is stored for later consumption. You may store the revenue in some form of asset.
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