Question

Select the correct economic concept with the appropriate economic scenario.

A. The accumulation of past income, natural resources, and financial resources.
B. Consumers use these funds to purchase entertainment and vacations.
C. It is wages, rents, investments, pensions, and subsidy payments for a given period.
D. The amount of money left after payment of taxes.

Answer 1

Option C is the correct economic concept, which includes various income sources such as wages, rents, investments, pensions, and subsidies for a given period.

Step-by-step explanation:

The correct economic concept with the appropriate economic scenario is Option C: It is wages, rents, investments, pensions, and subsidy payments for a given period.

In a market economy like the United States, income comes from ownership of the means of production, which includes various resources and assets. The most important resource for individuals is their labor, and most of their income comes from wages, salaries, commissions, tips, and other types of labor income.

Additionally, some people earn income from owning real estate or financial assets like bank accounts, stocks, and bonds, which provide interest, dividends, or other forms of income.

Answer 2

The correct economic concept is option C: wages, rents, investments, pensions, and subsidy payments for a given period.

Step-by-step explanation:

The correct economic concept with the appropriate economic scenario is option C: It is wages, rents, investments, pensions, and subsidy payments for a given period. This option accurately describes the factors that contribute to an individual's income. Wage income is earned through employment and is the most common type of income for many individuals. Rent income refers to the money earned from leasing out real estate. Investments, such as stocks and bonds, can generate income in the form of dividends or interest. Pensions are regular payments made to retirees, and subsidy payments are financial assistance provided by the government.