Components of a Consumer's Income Include

question 23

Multiple Choice

Components of a consumer's income include:

• A)inflation, recession, and recovery.
• B)salary, wages, commissions, and fees.
• C)gross, disposable, and discretionary incomes.
• D)taxes, perquisites, and salary.

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Definitions:

Cash

Money in the form of bills or coins, used as a medium of exchange; in accounting, it often refers to assets that are readily available for use.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision.

Alternative Use

Alternative use pertains to the different ways in which an asset or resource can be utilized apart from its current or primary purpose.

Cash

Money in the form of coins or banknotes, especially that held to conduct day-to-day transactions.