Which of the following is not a basic concept of income? A. psychic income B. real income C....
Question:
Which of the following is not a basic concept of income?
A. psychic income
B. real income
C. money income
D. gross income
Income
Any monetary value that a person earns by giving his or her time and efforts in a particular activity is referred to as his income from that activity. The income can be earned in the form of profits, salary, or wages.
Answer and Explanation: 1
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View this answerOption A is the correct answer
Psychic income can be defined as non-monetary satisfaction a person gets from earning the income, it can be known as...
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Aggregate Income: Definition & Formula
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Chapter 3 / Lesson 18
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Find how to calculate aggregate income. Learn the definition of aggregate income and find its importance. See the aggregate income formula with its components.
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