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PERSONAL INCOME AND DISPOSABLE INCOME: Personal income (PI) is the total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time, usually one year. Disposable income (DI) is the total income that can be used by the household sector for either consumption or saving during a given period of time, usually one year. Disposable income is after-tax income that is officially calculated as the difference between personal income and personal tax and nontax payments. In the numbers game, personal tax and nontax payments are about 15% of personal income, which makes disposable personal income about 85% of personal income.
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PROCESS INNOVATION An innovation that is an improvement in an existing product, technology, or idea or an improvement in the way a product, technology, or idea is produced. The contrast is with a product innovation, which is an innovation of a new product, technology, or idea that generates a beneficial improvement in society and the economy; one that is fundamentally different from existing products, technologies, or ideas.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club looking to buy either storage boxes for your summer clothes or 500 feet of coaxial cable. Be on the lookout for defective microphones.
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This isn't me! What am I?
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In the early 1900s around 300 automobile companies operated in the United States.
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"The difference between the impossible and the possible lies in a person's determination. " -- Tommy Lasorda
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CHIPS
Clearing House Interbank Payments Systems (US)
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