The Population’ Income, Expenses and Savings as Descriptive Aspects of the Standard of Living

• Main Author: Mălina-Ionela Burlacu
• Format: Article
• Language: English
• Published: Ovidius University Press 2016-01-01
• Series: Ovidius University Annals: Economic Sciences Series
• Subjects: income; expenses; savings; standard of living
• Online Access: http://stec.univ-ovidius.ro/html/anale/ENG/2016/2016-II-full/s3/5.pdf

At the level of any society, the income, expenses and savings have been playing and continue toplay an important role from both macroeconomic perspective (as a key element in the developmentof a company) and microeconomic perspective (from the point of view of the household, as a meanof describing the standards of living of the population). Linked together, they represent keyelements that play an important role in the entire national economy. By the means of a short quantitative research, this article aims to present how the total ofrevenues, the registered expenditure and the amount of savings on a household level create adescriptive picture of the standards of living. At a household level, the existing incomes representthe main source of both expenses and savings. Thus, a strong correlation between these elements iscreated, which defines the importance that each one shows.