Rising Incomes

Definition

As wages and salaries increased, people's incomes rose, leading to more disposable income available for spending and saving.

Related terms

Economic Growth: The increase in the production of goods and services in an economy.

Consumerism: A social and economic order that encourages the acquisition of goods and services in ever-increasing amounts.

Social Mobility: The ability of an individual or family to move up or down the social ladder based on factors like education, occupation, or income.