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PERSONAL INCOME AND NATIONAL INCOME: Personal income (PI) is the total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time. National income (NI) is the total income earned by the citizens of the national economy resulting from their ownership of resources used in the production, which may or may not be received by members of the household sector. Personal income can be derived from national income by subtracting income earned but not received (IEBNR) and adding income received but not earned (IRBNE).
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SERVICE: An activity that provides direct satisfaction of wants and needs without the production of a tangible product or good. Examples include information, entertainment, and education. This term service should be contrasted with the term good, which involves the satisfaction of wants and needs with tangible items. You're likely to see the plural combination of these two into a single phrase, "goods and services," to indicate the wide assortment of economic production from the economy's scarce resources. See also | good | satisfaction | wants | needs | good | production | information | education | economy | scarce good | scarce resource | economic good |
Recommended Citation:SERVICE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: January 24, 2022].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: service
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ELASTICITY ALTERNATIVES, SUPPLY Five categories of the price elasticity of supply that reflect the entire range of the relative responsiveness of a change in quantity supplied to a change in price. These five alternatives--perfectly elastic, relatively elastic, unit elastic, relatively inelastic, and perfectly inelastic--are often illustrated by different supply curves. The price elasticity of demand is also reflected by five comparable alternatives.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs wanting to buy either income tax software or a how-to book on the art of negotiation. Be on the lookout for attractive cable television service repair people.
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A half gallon milk jug holds about $50 in pennies.
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"Wherever you go, no matter what the weather, always bring your own sunshine." -- Anthony J. D'Angelo
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EFT
Electronic Funds Transfer
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