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BUSINESS INVENTORIES: Stocks of finished products, intermediate goods, raw materials, and other inputs that businesses have on hand. One big reason to keep inventories is to maintain a continuous stream of production by avoiding any supply shortages. Another big reason is to avoid the loss of sales because finished products are unavailable when a customer is ready, willing, and able to buy.
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PROPRIETORS' INCOME: The excess of revenue over explicit production cost of owner-operated businesses. While proprietorships are the namesake and most important contributory to proprietors' income, many partnerships are also included. Because proprietors or partners of owner-operated businesses generally supply several factors of production--labor, capital, land, and entrepreneurship--without explicitly paying for each factor separately, the income received by the owners usually include wage, interest, rent, and profit payments. However, in most it's virtually impossible to identify what portion of the owners income is payment for each factor, so they are combined as proprietors' income. See also | wage | interest | rent | profit | factor payments | National Income and Product Accounts | Bureau of Economic Analysis | national income | compensation of employees | net interest | corporate profits | rental income of persons |
Recommended Citation:PROPRIETORS' INCOME, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 8, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: proprietors' income
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REVENUE EFFECT The generation of revenue used to finance government operations that results from placing taxes on economic activity. The revenue effect is the primary reason that governments impose taxes on members of society. Without the revenue generated from taxes, governments could not provided valuable and essential public goods nor undertake other government operations. This is one of two effects of taxation. The other is the allocation effect, which is the change in resource allocation that results because taxes create disincentives to produce, consume, and exchange.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time at an auction wanting to buy either a square lamp shade with frills along the bottom or an electric coffee pot with automatic shutoff. Be on the lookout for defective microphones.
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"Progress always involves risk. You can't steal second base and keep your foot on first. " -- Frederick B. Wilcox
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ACCR
Annual Cost of Capital Recovery
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