What Does the Term Right Livelihood Mean? What Are Its

question 21

Essay

What does the term right livelihood mean? What are its three main characteristics? Do you believe it is possible to have a right livelihood if any one of the three characteristics is absent? Explain.

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Definitions:

Saving

The portion of income that is not spent on immediate consumption but is set aside for future use, often in investments or deposits.

Disposable Income

The available amount for households to spend and save, subsequent to income tax deductions.

Autonomous Consumption

The level of consumption that occurs when income is zero, representing the expenditures that consumers must make even when they have no income.

Disposable Income

Refers to the funds that individuals can spend or save after all income taxes are deducted.