What is the difference between Gross and net income?

Gross as an adjective can be defined as “without deductions; total, as the amount of sales, salary, profit, etc., before taking deductions for expenses or taxes.” Or as a noun, gross refers to the total income from sales, or salary before any deductions. This looks at the big picture sale price, while net looks at the end profit.

What does gross mean in a sentence?

As a verb, gross means “to have, make, or earn as a total before any deductions, as of taxes, or expenses.” For example, The restaurant still managed to gross a large profit during the coronavirus lockdowns by reinventing their takeout menu for curbside orders. Gross can also mean “unqualified” or “flagrant; extreme.”

What does gross mean in economics?

In economics, "gross" means before deductions, e.g., Gross Domestic Product (GDP) refers to the total market value of all final goods and services produced within a country, in a given period of time, usually a calendar year.