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

Correct Answer: Option A

A. Frugal economy

Explanation

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