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this is the percentage of each dollar of income, on average, that is spent for current needs and wants, rather than saved.

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This is the average percentage of each dollar of income spent on current necessities and wants rather than saved. Average propensity to consume (APC) counts how much money is spent each year versus saved.

Income

Income is the money that a person or entity earns in exchange for their labour or products. Income might have varied definitions depending on the situation, such as taxation, financial accounting, or economic research. Most people define income as their overall income in the form of salaries and wages, the return of their investments, pension distributions, and other sources. For businesses, income includes revenue from selling services and products, as well as interest and dividends collected on cash accounts and reserves tied to the business. Economists define and measure income in several ways.

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