Chocolate field glossary
Living income
Enough net annual household income for a decent standard of living in a specific place.
Origin & trade · working definitionUse the word
Use the word
with precision.
- Why it matters
- It shifts the question from one price to whether a household's net annual income can support a decent local standard of living.
- Common confusion
- Living income is not identical to living wage, farmgate price, gross farm revenue or a single premium.
- Practical example
- Assessment considers household size, costs, multiple income sources and a place-specific benchmark.
Evidence trailRead beyond