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Income is used to fund.
Total income economics definition. For example if company a produces 100 widgets and sells them for 50. It is the total income of a business and is calculated by multiplying the quantity of goods sold by the price of the goods. Gross income represents the total income from all sources including returns discounts and allowances before deducting any expenses or taxes. Economics the proportion of total income or of an increase in income that consumers tend to spend on goods and services rather than to save.
Income is money or some equivalent value that an individual or business receives usually in exchange for providing a good or service or through investing capital. An increase in consumption caused by an addition to read more. The ratio of total consumption to total income is known as the average propensity to consume. Net income is defined as the gross income minus taxes and other deductions and is usually the basis to calculate how much income tax is owed.
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