State the meaning of the following : (a) Ex-Ante Savings (b) Full Em

1.	State the meaning of the following : (a) Ex-Ante Savings (b) Full Employment (c) Autonomous Consumption
Answer» (a) Ex-ante saving : The saving which the firms or entrepreneur desire to maker in the economy during a period is called ex-ante (planned savings). (b) Full employment: refers to the situation when all the workers who are willing and able to work at prevailing wage rate are actually employed. (c) Autonomous consumption : When income is zero, consumption is not zero because consumption can never be zero even at zero level of income; there are some basic needs which need to be fulfilled even at zero level of income and to fulfil those basic needs we use past savings. This consumption at zero level of income is termed as “Autonomous consumption” and is denoted as bar C.

State the meaning of the following : (a) Ex-Ante Savings (b) Full Employment (c) Autonomous Consumption

Answer»

(a) Ex-ante saving : The saving which the firms or entrepreneur desire to maker in the economy during a period is called ex-ante (planned savings).

(b) Full employment: refers to the situation when all the workers who are willing and able to work at prevailing wage rate are actually employed.

(c) Autonomous consumption : When income is zero, consumption is not zero because consumption can never be zero even at zero level of income; there are some basic needs which need to be fulfilled even at zero level of income and to fulfil those basic needs we use past savings. This consumption at zero level of income is termed as “Autonomous consumption” and is denoted as bar C.

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