HOUSEHOLD INCOME Meaning and
Definition
-
Household income refers to the total amount of money earned by all members of a household before taxes and other deductions. It includes income from various sources such as employment, self-employment, investments, rental properties, government benefits, and any other sources of income received by the members of the household.
Household income is an important economic indicator used to measure the financial well-being and economic status of a household. It provides an overview of the income available to meet a family's needs, including expenses related to housing, food, transportation, education, healthcare, and other daily expenses.
Measuring household income allows analysts to evaluate income distribution within a given population or country, helping to assess the level of income inequality. It also serves as a basis for determining eligibility for various social welfare programs and benefits, as well as for market research and economic analysis.
Household income can be reported on an annual, monthly, or weekly basis, depending on the context and purpose of the analysis. It is often analyzed in conjunction with other demographic characteristics such as age, education level, occupation, and household size to gain a comprehensive understanding of the economic situation and living standards of different segments of the population.
Common Misspellings for HOUSEHOLD INCOME
- gousehold income
- bousehold income
- nousehold income
- jousehold income
- uousehold income
- yousehold income
- hiusehold income
- hkusehold income
- hlusehold income
- hpusehold income
- h0usehold income
- h9usehold income
- hoysehold income
- hohsehold income
- hojsehold income
- hoisehold income
- ho8sehold income
- ho7sehold income
- houaehold income
- houzehold income
Etymology of HOUSEHOLD INCOME
The word "household income" is composed of two main components: "household" and "income".
The term "household" originated from the Middle English word "houshald", which was a compound of "hous" (house) and "haldan" (to hold or manage). It referred to the collective group of people who lived together in a single dwelling and shared resources or expenses.
The word "income", on the other hand, has Latin origins. It comes from the Latin word "in" (into) and "venire" (to come), forming "invenire", which means "to come in". It later evolved into the Old French word "encombre", which meant "revenue" or "profit".
