Personal Income
Personal income is the total amount of money that an individual earns from all sources, including wages, investments, and other sources of income. It is the sum of all income earned by an individual in a given year, including wages, salaries, bonuses, commissions, dividends, capital gains, and other forms of income. Personal income is used to measure the economic well-being of individuals and households, and is an important indicator of economic growth.
History of Personal Income
The concept of personal income has been around since the early days of economics. In the 18th century, the French economist Jean-Baptiste Say proposed the idea of personal income as a measure of economic well-being. In the 19th century, the English economist Alfred Marshall developed the concept of personal income further, and it has since become an important measure of economic well-being.
In the 20th century, the concept of personal income was further developed by economists such as John Maynard Keynes and Milton Friedman. Keynes argued that personal income was an important indicator of economic growth, and Friedman argued that personal income was an important measure of economic well-being. Today, personal income is an important measure of economic well-being, and is used to measure the economic well-being of individuals and households.
Table of Comparisons
| Source of Income | Amount |
|---|---|
| Wages | $50,000 |
| Investments | $20,000 |
| Other Sources | $10,000 |
| Total | $80,000 |
Summary
Personal income is the total amount of money that an individual earns from all sources, including wages, investments, and other sources of income. It is an important measure of economic well-being, and is used to measure the economic well-being of individuals and households. For more information about personal income, you can visit websites such as the U.S. Bureau of Economic Analysis, the U.S. Census Bureau, and the Internal Revenue Service.
See Also
- Gross Domestic Product (GDP)
- National Income
- Disposable Income
- Net Income
- Income Tax
- Income Inequality
- Household Income
- Average Income
- Per Capita Income
- Income Distribution
