Net Income Definition Economics Quizlet

Start studying economics definitions unit 1.

Net income definition economics quizlet. Income earned from saving or lending. The share of national income going to different groups in society the poorest 20 of households at the bottom of the income scale through to the richest 20. Any money left over after expenseshave been deducted from gross profits also called net profit. The amount of money a health plan pays for services covered in an insurance policy.

Living standards depend on the level of economic activity and on the redistribution of resources within society as a whole. The proportion of all households who must live. Gross and net pay economics and personal finance. The level of inequality of income and wealth can be measured by.

Income based on an hourly rate. A worker who is hired to perform a job. Total amount of earnings made over a month before any deductions 1 12 of gai net monthly income. Learn vocabulary terms and more with flashcards games and other study tools.

An economic system in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country s citizens and businesses and there is little government intervention or central planning. Net income ni also called net earnings is calculated as sales minus cost of goods sold selling general and administrative expenses operating expenses depreciation interest taxes and. A portion of one s personal income paid to a government. An economic unit of one or more persons living under one roof that has a source of income and uses it in whatever way it deems fit.

Income earned per year divided by number of pay days. Terms in this set 8 benefits. The income that is left after all taxes except the corporate profits tax are subtracted from nnp. Start studying earning income.

Income earned per item sold. Rewards for working that are not money. Amount of monthly income remaining after all deductions have been taken sometimes referred to as take home pay income tax. Learn vocabulary terms and more with flashcards games and other study tools.

Income charged for.