income
American Heritage Dictionary:
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in·come
(ĭn'kŭm') 
n.
n.
- The amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property, or as profit from financial investments.
- The act of coming in; entrance.
[Middle English, arrival, entrance, from incomen, to come in, from Old English incuman : in, in; see in1 + cuman, to come; see come.]
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The money or other state benefit coming from the use of property, skill, or business.
Examples: In real estate, income may be produced by:
• rents
• fees
• royalties
• sales of crops, timber, or livestock
• revenues derived from business activities on the property
Examples: In real estate, income may be produced by:
• rents
• fees
• royalties
• sales of crops, timber, or livestock
• revenues derived from business activities on the property
| Inclusionary Zoning, Inchoate | |
| Income Approach, Income Limits |
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1. money earned during an accounting period that results in an increase in total assets.
2. items such as rents, interest, gifts, and commissions.
3. revenues arising from sales of goods and services.
4. excess of revenues over expenses and losses for an accounting period (i.e., net income).
See also gross income ; income realization ; net income ; revenue .
| Incentive Stock Option (ISO), Inadequacy, Imputed Interest | |
| Income Account, Income Bond, Income Deduction |
Antonyms by Answers.com:
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income
n
Definition: money earned
Antonyms: bills, debt, expenditure, expenses
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This entry contains information applicable to United States law only.
The return in money from one's business, labor, or capital invested; gains, profits, salary, wages, etc.
The gain derived from capital, from labor or effort, or both combined, including profit or gain through sale or conversion of capital. Income is not a gain accruing to capital or a growth in the value of the investment, but is a profit, something of exchangeable value, proceeding from the property and being received or drawn by the recipient for separate use, benefit, and disposal. That which comes in or is received from any business, or investment of capital, without reference to outgoing expendi- tures.
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The amount of money received during a period of time in exchange for labor or services, from the sale of goods or property, or as a profit from financial investments.
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Economic wealth that is generated in exchange for an individual's performance of agreed upon activities or through investing capital. Income is consumed to fuel day-to-day expenditures.
In businesses, income can refer to a company's remaining revenues after all expenses and taxes have been paid. In this case, it is also known as "earnings".
Investopedia Says:
For the average individual, income is earned through earning wages by working and/or making investments into financial assets. In most countries, the amount of income that an individual receives is taxed by the government before it is received. The revenue generated by income taxes is used to finance government actions and programs as determined by the federal budget.
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Devil's Dictionary:
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income
A cynical view of the world by Ambrose Bierce
n.
The natural and rational gauge and measure of respectability, the commonly accepted standards being artificial, arbitrary and fallacious; for, as "Sir Sycophas Chrysolater" in the play has justly remarked, "the true use and function of property (in whatsoever it consisteth -- coins, or land, or houses, or merchant- stuff, or anything which may be named as holden of right to one's own subservience) as also of honors, titles, preferments and place, and all favor and acquaintance of persons of quality or ableness, are but to get money. Hence it followeth that all things are truly to be rated as of worth in measure of their serviceableness to that end; and their possessors should take rank in agreement thereto, neither the lord of an unproducing manor, howsoever broad and ancient, nor he who bears an unremunerate dignity, nor yet the pauper favorite of a king, being esteemed of level excellency with him whose riches are of daily accretion; and hardly should they whose wealth is barren claim and rightly take more honor than the poor and unworthy."
Word Tutor:
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income
IN BRIEF: n. - The financial gain (earned or unearned) accruing over a given period of time.
When there is an income tax, the just man will pay more and the unjust less on the same amount of income.
— Plato, Source: The Republic
LearnThatWord.com is a free vocabulary and spelling program where you only pay for results!
Sign Language Videos:
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income
sign description: The sign for MONEY is done quickly and then the hand makes a scooping motion across the flat hand.
Quotes About:
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Income
Quotes:
"There is nothing more demoralizing than a small but adequate income."
- Edmund Wilson
"First secure an independent income, then practice virtue."
- Greek Proverb
"There are few sorrows, however poignant, in which a good income is of no avail."
- Robert Frost
"I'm living so far beyond my income that we may almost be said to be living apart."
- E.E. (Edward. E.) Cummings
"A large income is the best recipe for happiness I ever heard of."
- Jane Austen
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Financial return from a project or for help provided.
- i. elasticity — see demand elasticity.
- net i. — gross income less costs.
- i. over feed cost — a rough indicator of the profitability of an animal enterprise based principally on fattening of young livestock, e.g. in a feedlot. The fixed costs are the depreciation on the installation and labor, the variable costs are the price of cattle and the feed.
Mosby's Dental Dictionary:
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income
n
The return in money from one’s business, practice, or capital invested; gains, profit.
Random House Word Menu:
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categories related to 'income'
- Income Tax - income: various forms of taxable and nontaxable revenue received by taxpayer
- Accounting - income: money received in sales, wages, or profits
See crossword solutions for the clue Wikipedia on Answers.com:
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Income
This article is about theoretical attempts to define income. For its definition in United States law, see Income (United States legal definitions).
 |
This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (October 2010) |
Income is the consumption and savings opportunity gained by an entity within a specified time frame, which is generally expressed in monetary terms.[1] However, for households and individuals, "income is the sum of all the wages, salaries, profits, interests payments, rents and other forms of earnings received... in a given period of time."[2] For firms, income generally refers to net-profit: what remains of revenue after expenses have been subtracted.[3] In the field of public economics, it may refer to the accumulation of both monetary and non-monetary consumption ability, the former being used as a proxy for total income.[1]
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Contents
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Economic definitions
In economics, factor income is the flow (that is, measured per unit of time) of revenue accruing to a person or nation from labor services and from ownership of land and capital.[4]
In consumer theory 'income' is another name for the "budget constraint," an amount 
to be spent on different goods x and y in quantities 
and 
at prices 
and 
. The basic equation for this is
This equation implies two things. First buying one more unit of good x implies buying 
less units of good y. So, is the relative price of a unit of x as to the number of units given up in y. Second, if the price of x falls for a fixed , then its relative price falls. The usual hypothesis is that the quantity demanded of x would increase at the lower price, the law of demand. The generalization to more than two goods consists of modelling y as a composite good.
The theoretical generalization to more than one period is a multi-period wealth and income constraint. For example the same person can gain more productive skills or acquire more productive income-earning assets to earn a higher income. In the multi-period case, something might also happen to the economy beyond the control of the individual to reduce (or increase) the flow of income. Changing measured income and its relation to consumption over time might be modeled accordingly, such as in the permanent income hypothesis.
Full and Haig-Simons income
Main article: Haig-Simons income
Full income refers to the accumulation of both, monetary and non-monetary consumption ability of any given entity, such a person or household. According to the what economist Nicholas Barr describes as the "classical definition of income:" the 1938 Haig-Simons definition, "income may be defined as the... sum of (1) the market value of rights exercised in consumption and (2) the change in the value of the store of property rights..." Since the consumption potential of non-monetary goods, such as leisure, cannot be measured, monetary income may be thought of as a proxy for full income.[1] As such, however, it is criticized for being unreliable, i.e. failing to accurately reflect affluence and that is consumption opportunities of any given agent. It omits the utility a person may derive from non-monetary income and, on a macroeconomic level, fails to accurately chart social welfare. According to Barr, "in practice money income as a proportion of total income varies widely and unsystematically. Non-observability of full-income prevent a complete characterization of the individual opportunity set, forcing us to use the unreliable yardstick of money income." On the macro-economic level, national per-capita income, increases with the consumption of activities that produce harm and omits many variables of societal health.[1]
Income inequality
Income inequality refers to the extent to which income is distributed in an uneven manner. Within a society can be measured by various methods, including the Lorenz curve and the Gini coefficient. Economists generally agree that certain amounts of inequality are necessary and desirable but that excessive inequality leads to efficiency problems and social injustice.[1]
National income, measured by statistics such as the Net National Income (NNI), measures the total income of individuals, corporations, and government in the economy. For more information see measures of national income and output.
Income in philosophy and ethics
Throughout history, many have written about the impact of income on morality and society. Saint Paul wrote 'For the love of money is a root of all kinds of evil:' (1 Timothy 6:10 (ASV)).
Some scholars have come to the conclusion that material progress and prosperity, as manifested in continuous income growth at both individual and national level, provide the indispensable foundation for sustaining any kind of morality. This argument was explicitly given by Adam Smith in his Theory of Moral Sentiments[citation needed], and has more recently been developed by Harvard economist Benjamin Friedman in his book The Moral Consequences of Economic Growth.[citation needed]
Accountancy
The International Accounting Standards Board uses this definition:
- "Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from equity participants." [F.70] (IFRS Framework)
See also
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Look up income in Wiktionary, the free dictionary. |
References
- ^ a b c d e Barr, N. (2004). Problems and definition of measurement. In Economics of the welfare state. New York: Oxford University Press. pp. 121-124
- ^ Case, K. & Fair, R. (2007). Principles of Economics. Upper Saddle River, NJ: Pearson Education. p. 54.
- ^ Schoen, John W.. "What's the difference between revenue and income?". msnbc. http://www.msnbc.msn.com/id/7477449/. Retrieved 2008-03-14.
- ^ "factor income". http://bea.gov/bea/glossary/glossary.cfm?key_word=Factor_Income&letter=F#Factor_Income.
- D. Usher (1987). "real income," The New Palgrave: A Dictionary of Economics, v. 4, pp. 104–05
This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)
Translations:
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Income
Dansk (Danish)
n. - indkomst, indtægt, indtjening
idioms:
- income support bistandshjælp, kontanthjælp
- income tax indkomstskat
Nederlands (Dutch)
inkomen, inkomsten
Français (French)
n. - revenu, revenus, salaire
idioms:
- income support (GB, Admin Soc) allocation chômage minimum
- income tax (Fisc) impôt sur le revenu
Deutsch (German)
n. - Einkünfte, Einkommen
idioms:
- income support zusätzliche Hilfe zum Lebensunterhalt
- income tax Einkommenssteuer, Lohnsteuer
Ελληνική (Greek)
n. - (οικον.) εισόδημα, πρόσοδος
idioms:
- income support επίδομα (κοινωνικής ασφάλισης) ανεργίας ή χαμηλού εισοδήματος, κοινωνικό βοήθημα
- income tax (οικον.) φόρος εισοδήματος
Italiano (Italian)
reddito, stipendio
idioms:
- income support complemento al reddito
- income tax tassa sul reddito
Português (Portuguese)
n. - renda (f)
idioms:
- income support salário (m) suplementar pago pelo governo (GB)
- income tax imposto (m) de renda
idioms:
- income support подоходное пособие (доплата до прожиточного минимума)
- income tax подоходный налог
Español (Spanish)
n. - ingreso, renta, entrada, utilidad, rédito
idioms:
- income support ayuda compensatoria
- income tax impuesto a los réditos, impuesto sobre la renta
Svenska (Swedish)
n. - inkomst, avkastning
中文（简体）(Chinese (Simplified))
收入, 所得, 收益
idioms:
- income support 政府为低收入的人们提供的收入补助
- income tax 所得税
中文（繁體）(Chinese (Traditional))
n. - 收入, 所得, 收益
idioms:
- income support 政府為低收入的人們提供的收入補助
- income tax 所得稅
idioms:
- fixed income 固定収入
- income support 主要所得者
- income tax 所得税
العربيه (Arabic)
(الاسم) دخل
עברית (Hebrew)
n. - הכנסה כספית
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