Legal Definitions - economic earnings

Economic earnings refer to the revenue gained from labor or services, investment of capital, or assets. It is a measure of a company's profitability and financial performance.

• Gross earnings: This refers to the total income earned by an individual or company before any deductions or taxes are taken out.
• Net earnings: This is the income earned after all deductions and taxes have been taken out.
• Retained earnings: This is the accumulated income of a corporation after dividends have been distributed.
• Lost earnings: This refers to the income that a person could have earned if they had not lost their job, suffered a disabling injury, or died.

These examples illustrate the different types of economic earnings and how they are calculated. Gross earnings are the total income earned, while net earnings are the income earned after deductions and taxes. Retained earnings are the accumulated income of a corporation, while lost earnings refer to the income that could have been earned if certain circumstances had not occurred.