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Define autonomous consumption.(1 point)

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Autonomous consumption is the amount that a person spends on other people and does not include any expenses that are spent solely for oneself, such as food or luxury items.
Autonomous consumption is the amount that a person spends on other people and does not include any expenses that are spent solely for oneself, such as food or luxury items.

Autonomous consumption is the amount that a person chooses to spend over the costs of his or her basic needs, such as food and housing.
Autonomous consumption is the amount that a person chooses to spend over the costs of his or her basic needs, such as food and housing.

Autonomous consumption is the amount that a person spends on himself or herself and does not include any shared expenses, such as the cost of housing if other people also live in the dwelling.
Autonomous consumption is the amount that a person spends on himself or herself and does not include any shared expenses, such as the cost of housing if other people also live in the dwelling.

Autonomous consumption is the amount that a person must spend on basic needs (such as food and housing) regardless of his or her income.
Autonomous consumption is the amount that a person must spend on basic needs (such as food and housing) regardless of his or her income.

Autonomous consumption is the amount that a person chooses to spend over the costs of his or her basic needs, such as food and housing.

Autonomous consumption is the amount that a person chooses to spend over the costs of his or her basic needs, such as food and housing.

The correct definition of autonomous consumption is: The amount that a person chooses to spend over the costs of his or her basic needs, such as food and housing. Autonomous consumption is the minimum level of consumption that individuals maintain even when they have no income or when their income is zero. It represents the spending that people engage in regardless of their current income level. To calculate autonomous consumption, you need to subtract the essential expenses, such as food and housing, from the total income. The remaining amount is considered autonomous consumption.