An economy in which the whole income is not consumed is referred to as______

  • A Frugal economy
  • B Spend thrift economy
  • C Capitalist economy
  • D Mixed economy
jamb 2019english-language

The correct answer is A. Frugal economy

A frugal economy is an economy in which the income is shared between consumption and saving or consumption and investment i.e

γ = c + s or γ = C + I

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