_____ Is The Act Of Working In Exchange For An Income.

_____ Is The Act Of Working In Exchange For An Income.

(i) Production

(ii) Consumption

(iii) Employment

(iv) None of the above

The correct option is: (iii) Employment

Income

In an economy, an individual income is something in cash or monetary terms that is received by serving his services in the production process. An individual earns income to make various economic activities such as consumption and savings.

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