Final answer:
Disposable Income is the economic gain after taxes and transfers, representing available resources for households to spend, save, or invest.
Step-by-step explanation:
The economic gain derived from wages, salaries, income transfers, and ownership of property is best described as Disposable Income. This is the income that remains after taxes have been paid by households to the government and transfers, such as welfare payments, have been received from the government. In essence, it is the portion of personal income that is left for spending, saving, or investing after direct taxes.
In a market economy like the United States, individuals can earn income in various ways, such as through labor (wages, salaries, commissions, tips) or by owning assets like real estate or financial instruments (interest, dividends). The most important resource for most individuals is their labor. Disposable Income provides a household with the available resources it has to use after fulfilling tax obligations and receiving government transfers.