income and time use

Income refers to the money a person earns from work, investments, or other sources, shaping their ability to buy goods and services. Time use describes how individuals allocate their hours across various activities like work, leisure, household tasks, and rest. Together, income influences choices about how much time to dedicate to earning versus leisure, while time use reflects priorities and lifestyle. Understanding both helps explain economic behavior and well-being, illustrating how available resources and personal priorities impact daily life and long-term opportunities.