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underconsumption
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Underconsumption
In underconsumption theory in economics, recessions and stagnation arise due to inadequate consumer demand relative to the amount produced. The theory formed the basis for the development of Keynesian economics and the theory of aggregate demand after the 1930s.
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| Webster's Revised Unabridged Dictionary (1913) | Download this dictionary |
Underconsumption
(n.)
Consumption of less than is produced; consumption of less than the usual amount.
Consumption of less than is produced; consumption of less than the usual amount.
Webster's Revised Unabridged Dictionary (1913), edited by Noah Porter. About
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underconsumption
