Components of a consumer's income include __________.
A) inflation, recession, and depression
B) salary, wages, and commissions
C) gross, disposable, and discretionary income
D) sales taxes, income taxes, and property taxes
E) assets, liabilities, and equities

Question

Quizplus · Accepted Answer

Gross income refers to the total amount of money a person earns before taxes and other deductions. Disposable income is the amount of money a person has left over after paying taxes and necessary expenses, such as rent or mortgage. Discretionary income is the amount of money that is left over after all necessary expenses are paid and can be spent on non-essential items or savings. Therefore, choice C is the correct answer as it includes all three types of income.

Components of a Consumer's Income Include __________