Final answer:
Income is the flow of consumer goods and services available to an individual over time, including earnings from various sources.
Explanation:
Income: The flow of consumer goods and services that a person has the potential to enjoy during a specific period of time. It can be earned through wages, investments, and other sources.
Personal Income: Refers to an individual's total earnings from wages, investment interest, and other sources.
Property: Income is considered one form of property and contributes significantly to measures of wealth.
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