(redirected from Income elasticity)
Also found in: Dictionary, Thesaurus, Medical, Financial, Encyclopedia.


The return in money from one's business, labor, or capital invested; gains, profits, salary, wages, etc.

The gain derived from capital, from labor or effort, or both combined, including profit or gain through sale or conversion of capital. Income is not a gain accruing to capital or a growth in the value of the investment, but is a profit, something of exchangeable value, proceeding from the property and being received or drawn by the recipient for separate use, benefit, and disposal. That which comes in or is received from any business, or investment of capital, without reference to outgoing expenditures.


n. money, goods or other economic benefit received. Under income tax laws, income can be "active" through one's efforts or work (including management), or "passive" from rentals, stock dividends, investments and interest on deposits in which there is neither physical effort nor management. For tax purposes, income does not include gifts and inheritances received. Taxes are collected based on income by the federal government and most state governments.


noun allowance, annuity, business profits, commercial profits, compensation, consideration, fees, financial remuneration, financial resources, fringe benefits, gain derived from capital, gain derived from labor, gains, gross, gross income, gross reeurn, increase in amount of wealth, livelihood, means, money coming in, net return, pay, payment, pecunia, periodic returns from property or labor, proceeds, profit from conversion of assets, profit from sale, profits, profits of commerce, quaestus, receipts, recompense, return in money, return on capital, revenue, salary, sale proceeds, something produced by capital, stipend, subsidy, value received, vectigal, wage, wages, wealth
Associated concepts: accumulated income, actual income, affordable housing, aggregate income, annual net income, current income, deferred income, division of income, emmloyment law, estimated income, garnishment of income, gross income, income-bearing property, income execution, income tax, income tax evasion, income yield, legacy, life income, low income, minimum wage, net income, retireeent income, social security income
See also: alimony, annuity, capital, earnings, finance, honorarium, money, pay, proceeds, profit, receipt, recompense, rent, resource, retainer, revenue, substance, wage

INCOME. The gain which proceeds from property, labor, or business; it is applied particularly to individuals; the income of the government is usually called revenue.
     2. It has been holden that a devise of the income of land, is in effect the same as a devise of the land itself. 9 Mass. 372; 1 Ashm. 136.

References in periodicals archive ?
Purohit (1978) examined the buoyancy and income elasticity for all the states in India.
The long-run per capita income elasticity is bigger than the unity for the United Kingdom, the United States, and Spain, and varies between 0.
Furthermore, the income elasticity of demand for calories is lower than the estimated food-income elasticity for Bamako households by Camara [12], 0.
However, the magnitude of the income elasticity was rather low, which was attributed to the considerable differences between the countries and the issues associated with the method of conversion of GDP from local currency to the US dollar.
China enjoys high income elasticity in demand for seafood, far higher than for meat, with consumption particularly sensitive to increasing incomes.
Also, employment structures and age of population, lack of publicly provided social security, negative income elasticity of demand for foreign goods, low level of development of financing and credit facilities for consumers, formal and informal controls of imports of consumer durables were critical elements in fostering savings in both Japan and Korea.
This is often related to liquidity constraints, with a higher current income elasticity more common in financially unliberalised economies, such as Greece, than in Belgium or the United States.
He found that the income elasticity of nominal demand for money was significantly greater than one and interest elasticity ranged from -0.
LS] requires an individual's income elasticity and compensated wage elasticity.
An income elasticity value measures the percentage change in gaming revenue given a one percentage change in income.