What Is the Relationship Between the ELMS System and the 80/20

question 18

Essay

What is the relationship between the ELMS system and the 80/20 principle?

---

Definitions:

Disposable Income

The income available for saving and spending after the deduction of income taxes from earnings is known as disposable income.

Consumption

The process by which goods and services are used up or consumed, typically referring to household consumption in economics.

Average Propensity

Average Propensity refers to the average tendency of individuals or entities, such as the average propensity to consume or save, measured over a specific period or income level.

Disposable Income

The available cash reserves for households to spend and save once taxes on income have been settled.