Topics
- Definition
- Constituents of Private Income
CISCE: Class 12
Definition: Personal Income
"Personal income is the current income received by the persons from all sources including transfer income from government and business." -Prof. W.C. Peterson
CISCE: Class 12
Formula: Personal Income
Personal income = Private income - Savings of private enterprises - Corporation tax.
CISCE: Class 12
Formula: Personal Disposable Income
Personal Disposable Income = Consumption Expenditure of Households + Household Savings
