Hello ♨☕♨
What is about 16th Episode?
Today I am talking about one very much special ASPECT of Economic Activities. The following writing can be classified into two main part. One is Consumption and other is Income.
¶=What is Consumption and Income?
Ans= In the sense of Economic language when anyone put interest or urge to use anything as it is possible to use and available then it should be considered as Customer Consumption. This is the action of using up a resource.
Ex:
** The daily uses Toothbrush and Paste**.
When one work or through investments and Earn benefits in money or something then it is called Income. It can be counted various ways.
Ex:
** The Monthly salary of Woking in Bank.**
Types of Consume
When goods have reached final direction and can give direct satisfaction to consumer then this would be first type of consumption.Like--- eating of anything and wearing clothes.
Goods also indirectly can satisfied a consumer through producing Other goods.Like--- using of sewing or making clothes. It also considered as productive consumption.
Consumption also can be useful or wasteful.After eating an apple you would got health benefits but when your saving machine will destroy and unable to walk and then it would be wasteful.
Type of Income
Income is separated into two types: Earned and Unearned.
Earned means producing money by selling goods or employed in factory or company.Earned against service for a period. It can also be self employment.
Unearned income is the benefit of your on income or it can also be fortunate income. It can be increased--
Retirement benefits, unemployment compensation ,royalties ,gifted cash Etc.
consequence and conquest of consume over income
Since the growth of Economics development in human society the growing conquest and the consequence of consume over income is daily increasing in a high rate who is spontaneously suppressed or help in the growth of unemployment. We daily uses everything in high rate and against it we earned nothing. This will take our economic life into ditch. We have to consume only a little and focus more to and or income high. This will be more beneficial for us.
©Copyrights are taken from @binoddahal of Fact of Faith 16 th Episode