### possession | sum:

Income
* account for households.
* accrues to people from sources other than pay.
* alone poor index of economic status, for the individual and the community.
* are financial gain
  - often more evenly spread out than in other types of economy
* can be subject to taxes in more than one country.
* concept of the accounting methods of profit-seeking business.
* fixed rate of return and remains constant for life.
* fluctuate more than consumption does from one year to the next.
* gain derived from any source whatsoever.
* good variable to use to reflect social class.
* includes things such as wages, pensions, etc.
* is accumulated over time
  - adjusted gross income for taxpayers filing jointly with two dependents
* is all money before taxes or anything else is taken out
  - sources of money coming into the household
  - allocated among factors of production based on their marginal productivities
* is an asset because it provides the means to subsist and eventually accumulate wealth
  - eligibility factor for services
  - umbrella variable that can be explained by a combination of various factors
* is another factor that can affect demand
  - important measure of economic well-being
  - any form of periodic payment
* is based on number of people in the house
  - production of business and is similar to being self-employed
  - the annualized gross family income from all sources
  - cash flow
  - consumption plus the change in net worth
  - correlated more strongly with well-being than is education
  - defined to include interest, dividends, and investment gains
  - dependent on several traits
  - dividends, interest, rents, royalties and the like
  - earned at prices which are competitive with the private sector
  - equal to the population in production units
  - gain or profit separated from capital
  - important because it is one way to measure the size and success of a business
  - in terms of gross average monthly income
  - income is income
  - income, and it's all generally exempt from income tax
  - inflows of cash to an individual or household
  - just one of the returns to expect from a good investment
* is measured as value-added
  - by the proportion of students eligible for free school lunch programs
  - for a period of time
  - on a per capita and median household basis
  - per full-time equivalent student and in terms of gross amounts of income
  - money that comes into the business as a result of sales or interest on invested money
  - one major factor in inequality
* is one of eight factors used to describe the population of interest
  - several factors considered when determining payment amount
  - only one of the criteria on which financial aid is based
  - personal disposable income
  - redistributed as a way to alleviate financial poverty
  - simply compensation received in exchange for productive services supplied to others
* is taxed in the year it's earned
  - to nonresidents based on the allocation and apportionment of worldwide income
* is taxed when earned
  - it is earned, and again when the person who earned the income dies
* is the ability to live a good life
  - current return that any fiduciary receives from an asset that is principal
  - flow of revenue over a particular time period
  - realization of gain
  - value of the member's account at retirement
  - treated as capital gains
  - typically more unequally distributed than consumption
  - what the doctor keeps after health care services are paid for
* makes possible consumption of goods and services, and thereby a higher standard of living.
* means all income of all persons who live in the household.
* much better measurement of wealth in today's economy.
* number of transactions times a profit.
* refers to money received by a person or household over some period of time
  - total income from all sources before taxes or deductions
* rise when domestic production increases, and consumers increase purchases.
* varies according to geographic region, experience and employment setting
  - job and type of family
  - depending on type of work and geographical area
  - greatly among retiree households as it does for the general population