Difference between Personal Income and Disposal Personal Income Here, discussed on Difference between personal income and disposable income from economics class 12 What is Income? Income is the money received by a person or a company in exchange for labour, the production of a good or service, or the contribution of capital. It's the monetary value of a company's consumption and saving options for a given time span. Wages and benefits are common sources of income for people. Organizations make money by selling products or services to cover their production costs. Income is the flow of cash that comes into a family from employers, possessing a business, state benefits, rents on properties, etc. For households and people, “income is the amount of the multitude of wages, compensations, benefits, premium installments, rents, and different types of profit got in a given timeframe.” In the field of public financial matters, the idea may involve the accumulation of both monetar
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