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Table 13-18
-Refer to Table 13-18. What is the total output of five workers?
Discretionary Income
The amount of an individual's income left for spending, investing, or saving after taxes and personal necessities (like food and shelter) are taken care of.
Necessities
Essential items required for living, such as food, clothing, and shelter.
Taxes
Compulsory financial charges or other levies imposed on an individual or a company by a governmental organization in order to fund various public expenditures.
Discretionary Income
Discretionary income is the amount of an individual's income that is left for spending, investing, or saving after taxes and personal necessities have been paid.
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