Problem 10

Introduction

Money gained by a person or a company in return for work, the supply of an item or service, or the investment of capital is referred to as income. A pension, a government payout, or a gift can all help a person accumulate money. According to a governmental tax agency, income may be taxed, tax-free, or tax-reduced. In the viewpoint of an economist, income may be disposable or optional. The monies we spend to pay our everyday costs are most commonly referred to as income. Wages, wages, freelance fees, and revenue from small businesses are all examples of income sources.