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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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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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