What Is the Definition of Aggregate Income

question 95

Multiple Choice

What is the definition of aggregate income?  

• A) the sum of income earned by all labourers in the world economy 
• B) the sum of income earned by all workers in the private sector 
• C) the total income of all individuals who contribute resources to the market production of output 
• D) total income after all income taxes but before paying other payroll taxes

Comprehend the factors of safety, risk, income, and growth in evaluating traditional investments.

Understand how operating efficiencies contribute to competitive advantage.

Recognize different production methods (small-batch, continuous-process, mass production) and their characteristics.

Understand the concept of competitive advantage and its significance.

---

Definitions:

Cost-plus Pricing

An approach to pricing in which a sale price is established by adding a specific extra amount to the product's per-unit cost.

Target Profit Pricing

Setting a product price based on a predetermined profit objective, rather than market or competitive conditions.

Return-on-investment (ROI)

A financial metric utilized to evaluate the efficiency of an investment or compare the efficiency of several different investments.

Business-to-business Markets

Markets focused on selling products or services from one business to another rather than to individual consumers.