Economic Awareness - Sectors of Indian Economy
Which of the following best describes 'Mixed Income' in the Income Method?
Which of the following best describes 'Mixed Income' in the Income Method?
medium Q7 of 15
Step-by-Step Solution
Step 1: Understand 'Mixed Income'
Mixed income is the income earned by self-employed individuals who combine their own labor and capital in production.Step 2: Analyze options
Self-employed persons combining labor and capital fit the definition. Government employees earn wages, interest income is from capital only, and profits by corporations are separate.Final Answer:
Income earned by self-employed persons combining labor and capital → Option DQuick Check:
Mixed income = Self-employed combining labor and capital ✅
Quick Trick: Mixed income = combination of labor and capital in self-employment.
Common Mistakes:
- Confusing mixed income with wages or corporate profits.
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