Differentiate between Direct and Indirect Real Income. Explain any thr

1.	Differentiate between Direct and Indirect Real Income. Explain any three ways by which you and your college studying brother can supplement the family income.
Answer» Direct (Non-money) Income consists of the goods and services availed by a family directly through their efforts or the efforts of the community without the use of money. In comparison, Indirect Real Income consists of those goods and services which are availed indirectly by a family in which some medium of exchange, usually money, is involved. Three ways in which my college studying brother and I can supplement the family income are Taking up part-time jobs My brother and I can work as a part-time shop salesperson or an accountant during the evening hours. Self-employment My brother and I can conduct tuitions, cookery classes, make candles, tailor clothes etc during our spare time. Judicious use of possessions My family can use their land/ plot for growing vegetables which my brother or I can cultivate and sell.

Differentiate between Direct and Indirect Real Income. Explain any three ways by which you and your college studying brother can supplement the family income.

Answer»

Direct (Non-money) Income consists of the goods and services availed by a family directly through their efforts or the efforts of the community without the use of money. In comparison, Indirect Real Income consists of those goods and services which are availed indirectly by a family in which some medium of exchange, usually money, is involved.

Three ways in which my college studying brother and I can supplement the family income are

Taking up part-time jobs My brother and I can work as a part-time shop salesperson or an accountant during the evening hours.
Self-employment My brother and I can conduct tuitions, cookery classes, make candles, tailor clothes etc during our spare time.
Judicious use of possessions My family can use their land/ plot for growing vegetables which my brother or I can cultivate and sell.

Differentiate between Direct and Indirect Real Income. Explain any three ways by which you and your college studying brother can supplement the family income.

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