Ask a question

An Easy Way To Understand The Meaning Of Income

What do you understand the meaning of socioeconomic?

It is the economic status of people which includes income, occupation and social standards..For example, in my country we have classes A-E, "A" being a person in a top job with a high salary and possibly private housing, and E being an unemployed person with no income at all, possibly in rented accomodation and given allowance by the government..

Help On Understanding What This Means!?

Well first of all, income tax is a tax that is calculated based on your monthly income.

Free institutions are for example schools, so actually a free institution that helps you get 'smarter' and by that teach you things that can help you make money (create business, get to law school) --> accumulate wealth.

So, the question asked is, in easier terms:

'Do you think is right to pay income tax, since that tax pays (partly) for institutions that helped you getting to where you are now?'

I advise to answer by the positive.

What is the meaning of money laundering? Please explain with the help of an example.

Money laundering is the process of making illegally gained income(black money) appear legal (white money).Mostly it is used to avoid taxation, avoid questions on the source of the simple words,Money laundering is something some people do to the money they make from crime or corruption. When someone does money laundering, they tries to make it hard for the authorities to find out where they got the money.for eg.: launder money is by using the money earned from illegal activities to buy things like gold,silver and shares or casino chips, other legitimate business activities like food or liquor stores and then selling those items to get the money back. If someone buys and sells things many times it is hard for the authorities to find out where they got the money.i want to give one more example that many people are using now a days:just apply it on you and understand: There are 6 family members in your family in which 2 member are unemployed ( they have no source of income)may be your wife,mother,brother or sister. you just need to present to tax department that they are gaining 2.5 lakh per annum. Source of income may be tution, tailoring, beautician, or many more. but originally they are doing nothing.Now you can transfer your black money in their account to show it as white money.

Don't understand how to do this problem. Any help is much appreciated!?


Using my TI-84 ...

A. Assuming that weekly food expenditures are normally distributed, find the probability that a household with this income spends between $180 and $215 on food in a week.

P = 0.9104

B. Find the probability that a household with this income spends more than $250 on food in a week.

P = 0.000000287

C. Find the probability in part A if the variance is 81.

P = 0.9391

D. Find the probability in part B if the variance is 81.

P = 0.00000001387

hope that helped