International records / OpenAlex research

Theory of the Consumption Function and Analysis of Impact of Consumption on the Nigerian Economy: A Specious Argument

Over the years, practitioners have come out with various economic theories about the workings of an economy and one of these theories is the theory of the consumption function. A consumption function is an economic model that describes the relationship between a household's spending (consumption) and its disposable income. It is a foundational concept in macroeconomics, famously introduced by John Maynard Keynes, that suggests consumption is a function of income. Several types of Consumption Functions have been proposed in the literature to include the Absolute Income, Relative Income, Permane…