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Income |
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Income The word "income," in its broad sense, is the gain derived from capital, labor, or a combination of the two. It is distinguishable from the capital itself. Ordinarily, for income tax purposes, the word "income" is not used alone. Rather it is used within such descriptive terms as gross income, taxable income, and adjusted gross income, all of which are defined elsewhere in this glossary. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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income elasticity of imports is much higher than foreign income elasticity for U. high income elasticity of demand -- a characteristic of certain products Necessities usually have an income elasticity of zero, while luxury products have high income elasticities. |
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