Final answer:
Factors like market value, productivity, and regulations significantly impact a person's income.
Explanation:
Factors Influencing a Person's Income:
- Market Value: The value society places on resources you own affects your income. This includes wages, salaries, and income from assets like real estate or financial investments.
- Productivity: Higher productivity can lead to higher income as it increases the value of your work to employers.
- Regulations: Laws like minimum wage regulations, safety laws, and the impact of labor unions can all influence income levels.
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