Per-Capita Income in an Economy

question 89

Multiple Choice

Per-capita income in an economy

• A) is the net income of that economy.
• B) is the average income of all people in that economy.
• C) is the difference between exports and imports in that economy.
• D) is the difference between earnings and consumption of all people in that economy.

---

Definitions:

Peak Seasonal

Periods during which demand for certain goods or services increases significantly, often related to the time of year.

Cash Discount

A cash discount is a reduction in the invoice price offered by a seller to the buyer in return for early payment of their bill, as a way to encourage quicker payment.

Net 30

A payment term indicating that full payment is due within 30 days of the invoice date.

Trade Discount

A reduction in the listed price of goods or services offered by a seller to buyers in the same trade.