Question

why is greater income considered as one of the important goals of life

Answer 1

1》In a traditional method of computing the economic development, income is considered important.
2》Based on the assumption that a higher income will result in higher disposable income for the people to get access to main utilities of life and some luxury goods as well.
3》The higher the income, the better it is for an individual to consume more.
4》This is the reason that higher income is considered an important goal.

Answer 2

Answer:

Greater income is an important economic goal because:

a. It serves as an important tool of comparing different nations and classifying them as rich countries or low income countries.

b. It gives us an information about what an average person is likely to earn and therefore is an important indicator of development.

c. It  gives us a quantitative aspect of development.

d. Greater income certainly accounts for an individual to raise his standard of living and fulfill his basic needs.

Explanation:

*The higher the income, the better it is for an individual to consume more.

*Based on the assumption that a higher income will result in higher disposable income for the people to get access to main utilities of life and some luxury goods as well.