The amount of money a consumer has left after paying for food, clothing, and shelter is referred to as Disposable Income.
Disposable income is the excess income that remains after the consumer or income earner has paid for the necessities of life. The necessities of life include food, clothing, and shelter.
The consumer can use the disposable income to build up their budget and increase their savings.
Disposable income can be differentiated from discretionary income. Discretionary income includes the amount of income that the consumer can further spend, invest, or save after the payment of taxes and personal necessities.
Thus, the amount of money a consumer has left after paying for food, clothing, and shelter is referred to as Disposable Income.
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