Final answer:
Amount earned from performing a service refers to the income generated through wages, salaries, or other labor-related payments. It is influenced by factors like the amount of labor, the value of it, education, and employment opportunities.
Step-by-step explanation:
The economic characteristic in question, the amount earned from performing a service, refers to the income that is realized as a result of providing services to consumers. This can come in various forms such as wages, salaries, commissions, tips and other types of labor income.
In a market economy, the income you earn depends on the quantity and value of the resources you own, including your labor. Your labor income is dependent on how many hours you work and the wage rate an employer is willing to pay.
In broader terms, services are economic products just like goods, where the main difference lies in their tangibility. An excellent example is when you pay for a haircut or visit a dentist; you are essentially purchasing a service.
Economic characteristics encompass the broader concepts of production, distribution, and consumption in society, which include trade, resources, money, taxes, and monetary policies.
Education and employment also play a critical role in determining your income from labor. Higher levels of education typically provide access to more lucrative career paths and the potential for additional income.
Employers expect a certain level of performance, which is often linked to the education and experience of the employee.