________ income is the amount of money an individual has left to spend after paying for necessities such as housing,utilities,food,and clothing.

Question

Quizplus · Accepted Answer

Discretionary income is the income left over after an individual has paid for all necessities. It is the amount of money that an individual has to spend on non-essentials like entertainment, travel, and luxury purchases. Gross product refers to the total value of goods and services produced in a country. Standard of living is a measure of the quality of life of individuals or households, which is influenced by a range of factors including income, employment, education, and healthcare. Inflationary refers to a situation where there is a general rise in prices, leading to a decrease in the purchasing power of money. Competitive refers to a situation where there are many firms competing in a market, leading to lower prices and better quality products for consumers.

________ Income Is the Amount of Money an Individual Has