Question

Easy defination of income in economics

Answer 1

The amount of money received during a period of time in exchange for labor or services, from the sale of goods or property, or as a profit from financial investments.

Answer 2

Income is money that an individual or business receives in exchange for providing a good or service or through investing capital. Income is used to fund day-to-day expenditures. People aged 65 and under typically receive the majority of their income from a salary or wages earned from a job.

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