Copyright

Ch 43: PLACE Business Education: Personal Income

About This Chapter

Review the intricacies of personal income as you prepare to take the PLACE Business Education exam. In addition to short videos, this chapter also includes text lessons and quizzes to better help you understand the information.

PLACE Business Education: Personal Income - Chapter Summary

The PLACE Business Education exam may include questions related to personal income - with topics ranging from expenses to retirement. This chapter should help clear the murky waters as you study:

  • Disposable income
  • An explanation of consumer income
  • Income sources in retirement
  • An overview of cost of living
  • Standard of living measurement
  • Assessing the costs and benefits of a career

The videos in this chapter are brief and informative. If you miss any crucial information, you can review the main points of any video by using the built-in video tags or reading over the text lessons.

PLACE Business Education: Personal Income Chapter Objectives

At the end of this chapter on personal income, you should be better prepared for questions you could encounter in the Economics and Personal Finance section of the exam. Prepare for this multiple-choice exam using the self-assessment quizzes and chapter exam in this chapter.

6 Lessons in Chapter 43: PLACE Business Education: Personal Income
Test your knowledge with a 30-question chapter practice test
Consumer Income: Definition & Statistics

1. Consumer Income: Definition & Statistics

Consumer income is crucial for the functioning of our consumer-based economy. In this lesson, you'll learn what consumer income is, examine some related concepts, and see some relevant statistics.

What Is Disposable Income? - Definition & Explanation

2. What Is Disposable Income? - Definition & Explanation

Most businesses need customers with disposable income and also need disposable income themselves to grow. In this lesson, you'll learn what disposable income is and discover some important related concepts. A short quiz will follow.

Sources of Income in Retirement

3. Sources of Income in Retirement

In this lesson, learn several key ways that older adults pay their bills after retiring from work. You'll see how people can have different experiences in funding their retirement.

What is Cost of Living? - Expenses & Overview

4. What is Cost of Living? - Expenses & Overview

Most everyone would like a COLA, and we're not talking about soft drinks. In this lesson, you'll learn what cost of living is and some of its key concepts. You'll also have a chance to take a short quiz.

Standard of Living: Definition & Measurement

5. Standard of Living: Definition & Measurement

You've probably heard about the concept of standard of living and how it varies between different countries. In this lesson, you'll learn about what standard of living is and how it can be measured.

Evaluating a Career's Cost and Benefits

6. Evaluating a Career's Cost and Benefits

Choosing a career takes a lot of thought. One way to consider different careers to to compare the cost and benefits of them. Watch this lesson to figure out how to determine the return on investment for different careers.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

Earning College Credit

Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

To learn more, visit our Earning Credit Page

Transferring credit to the school of your choice

Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.

Other Chapters

Other chapters within the PLACE Business Education: Practice & Study Guide course

Support