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The part of income after tax that is not consumed is defined as

Economics
JAMB 2023

The part of income after tax that is not consumed is defined as

  • A. Wages and salaries
  • B. Saving
  • C. Capital investment
  • D. Nondurable goods expenditure
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Correct Answer: Option B
Explanation

The part of income after tax that is not consumed is defined as saving. This is because when income is earned, it is either used for consumption or saved. Therefore, if it is not consumed, it is saved. Capital investment, wages and salaries, and nondurable goods expenditure are all forms of consumption, not saving.


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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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