In a market economy,income depends mostly on _____

Question

Quizplus · Accepted Answer

In a market economy, income depends mostly on earnings. This is because individuals earn income by providing goods and services in exchange for payment, and the amount they earn is determined by factors such as their skills, education, experience, and the market demand for their products or services. While inflation, economic growth, government policies, and household quintiles may all have some impact on income, earnings are the primary determinant.

In a Market Economy,income Depends Mostly on _____