Economics GCSE
Net pay
What Net pay means in Economics GCSE, as defined for AQA.
Definitions of Net pay
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Reference: AQA
The amount an employee actually receives after all mandatory and voluntary deductions have been subtracted, often referred to as take-home pay.
Often called 'take-home pay', this is the amount remaining after all deductions have been subtracted from the gross pay.
Calculated using the formula: Gross Pay - Total Deductions.
Topics that use Net pay
- The labour market (AQA GCSE)
Related terms
- Deductions
- Derived demand
- Gross pay
- Income Tax
- Labour market
- Labour markets
- Market equilibrium
- Price determination
Using Net pay in the exam
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