What is money income in the economy?

Cash income is the dollar amount of income that is typically earned through work. Cash income does not take into account inflation, purchasing power or other factors that could affect the actual value of cash income. “Real income” is the value of the dollar that a person earns, given purchasing power, inflation, and other factors that can affect the value of that money. Cash income for a person who makes $ 400 a week does not account for the number of goods or services that money can buy, while real income does.

Remember: The process of learning a person lasts a lifetime. The value of the same knowledge for different people may be different, it is determined by their individual characteristics and needs. Therefore, knowledge is always needed at any age and position.