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LSDefine
Simple English definitions for legal terms
aggregate income
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A quick definition of aggregate income:
Term: AGGREGATE INCOME
Definition: Aggregate income is the total amount of money earned by a person or group of people. It includes all sources of income, such as wages, salaries, tips, and investment earnings. Basically, it's the sum of all the money you make.
Term: AGGREGATE SENTENCE
Definition: An aggregate sentence is a sentence that combines two or more shorter sentences into one longer sentence. This is done to make writing more concise and to avoid repetition. For example, "I went to the store. I bought some milk. I also got some bread." can be combined into one aggregate sentence: "I went to the store and bought some milk and bread."
A more thorough explanation:
Definition: Aggregate income refers to the total amount of income earned by all individuals or entities within a particular group or society. This includes wages, salaries, profits, and other sources of income.
Example: In a small town, the aggregate income of all residents is $1 million per year. This includes the income earned by people who work at the local factory, the grocery store, and other businesses in the town.
Explanation: The example illustrates how aggregate income is the sum of all individual incomes within a particular group or society. In this case, the aggregate income of the small town is the total amount earned by all residents, regardless of their occupation or source of income.