Final answer:
Income in a market economy comes from owning resources or assets, the most important being labor. Most income is earned through wages, salaries, commissions, tips, and other forms of labor income. The wage rate an employer pays for work determines labor income.
Step-by-step explanation:
In a market economy like the United States, income comes from ownership of the means of production: resources or assets. For the majority of us, the most important resource we own is our labor. Thus, most of our income is wages, salaries, commissions, tips and other types of labor income. Your labor income depends on the wage rate an employer will pay you for your work.