According to the life-cycle hypothesis,consumers plan their spending based on their current disposable income when they are very young.

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According to the life-cycle hypothesis, consumers plan their spending based on their expected lifetime income, not just their current disposable income when they are young. The theory suggests that individuals tend to save more when they are young and have low income, and then spend more when they are older and have higher income.

According to the Life-Cycle Hypothesis,consumers Plan Their Spending Based on Their