Year: 2024
Type: article
Abstract: The goal of social production is to continuously meet the consumption needs of the people. This study uses a combination of qualitative and quantitative analysis methods. With reference to Keynes 's classical consumption theory, a consumption function model is constructed for different types of consumption structures. The purpose of this study is to explore the impact of wage income of family members on household consumption structure, so as to further protect and improve people 's livelihood and stimulate economic vitality. After empirical testing, this paper concludes that the wage income of family members has a significant impact on the household consumption structure. From the perspective of new wage income, this finding helps us to study how wage income growth changes the consumption structure, reveals the specific performance of income distribution effect in the field of consumption, and further enriches and expands the consumption theory. Therefore, families should scientifically plan the layout of consumption and savings according to the actual situation of their wage income.
Author: Ninghui Du
Institution: Northeast Electric Power University
Language: English
Topic: Economic Theory and Policy
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4404867523