Income is the consumption an savins opportunity gained bi an entity within a specified timeframe, which is generally expressed in monetar terms. Houiver, for hoosehaulds an individuals, "income is the sum o aw the wages, salaries, profits, interests payments, rents, an ither forms of earnins received... in a gien period o time."
References[eedit | eedit soorce]
- Barr, N. (2004). Problems and definition of measurement. In Economics of the welfare state. New York: Oxford University Press. pp. 121-124
- Case, K. & Fair, R. (2007). Principles of Economics. Upper Saddle River, NJ: Pearson Education. p. 54.