Saving is that portion of money income that is
(A) spent for development of Industries
(B) not spent on consumption
(C) spent on health and education
(D) spent for consumer durables
Correct Answer : not spent on consumption
Question Asked : SSC CGL Tier-I (CBE) Exam 2016
Explanation : Saving is income not spent, or deferred consumption. In economics, it refers to any income not used for immediate consumption-consuming less out of a given amount of resources in the present in order to consume more in the future. Saving, therefore, is the decision to defer consumption and to store this deferred consumption in some form of asset.
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Tags : macroeconomics
