consumption schedule

Consumption scheduleclick for a larger image
Fig. 33 Consumption schedule. A simple consumption schedule that takes the linear form C = a + b Y, where C is consumption and a is the minimum level of consumption expenditure at zero-disposable income (autonomous consumption). Thereafter consumption expenditure increases as income rises (induced consumption), and b is the proportion of each extra £ (pound) of disposable income that is spent. The 45-degree line OE shows what consumption expenditure would have been had it exactly matched disposable income. The difference between OE and the consumption schedule indicates the extent of dissavings or SAVINGS at various income levels. The slope of the consumption schedule is equal to the MARGINAL PROPENSITY TO CONSUME. See SAVINGS SCHEDULE, LIFE-CYCLE HYPOTHESIS, PERMANENT-INCOME HYPOTHESIS.

consumption schedule

a schedule depicting the relationship between CONSUMPTION EXPENDITURE and the level of NATIONAL INCOME or DISPOSABLE INCOME, also called consumption function. At low levels of disposable income, households consume more than their current income (see DISSAVING), drawing on past savings, borrowing or selling assets in order to maintain consumption at some desired minimum level (AUTONOMOUS CONSUMPTION). At higher levels of disposable income, they consume a part of their current income and save the rest (see SAVING). See INDUCED CONSUMPTION.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
The default schedule and plug-load consumption schedule in the energy simulation were used in Case 1.
The comparison of electricity consumption schedule before and after optimization is shown in table 1.
The lower the value of the right-hand side of (6) the less binding the incentive constraint will be and the better the consumption schedule that can be implemented.
In addition to this, these systems create optimal consumption schedules by taking numerous factors such as load profiles, energy costs, environmental concerns and consumer comfort into consideration.
Daily fluctuations in consumption schedules and seasonal fluctuations are largely determined by meteorological factors: ambient air temperature, illumination, humidity, wind speed [7].
The Kyrgyz Ministry of Industry, Energy and Fuel Resources has issued the order on electricity consumption limits, which entails electricity rationing from 24.00 to 05.00 since October 1 in accordance with electricity cut-off schedules in case of exceeded electricity consumption limit, reported the press service of the Ministry of Industry, Energy and Fuel Resources.The given order was issued to meet electricity consumption limits, as well as to ensure that Toktogul reservoir has at least 7.5-7.8 billion cubic meters by 1 April 2010.The electricity consumption limits and consumption schedules will be discussed with local government bodies.