Discretionary income is an elusive concept because the definition of necessities varies from family to family and over time.

Question

Quizplus · Accepted Answer

Discretionary income is the income left over after all necessary expenses are paid. However, what is considered necessary expenses varies from family to family and over time due to changing lifestyles, priorities, and economic conditions. Therefore, discretionary income is an elusive concept.

Discretionary Income Is an Elusive Concept Because the Definition of Necessities