How Do People Make Money?. Discussion: What are some ways that you have earned or made money?

How Do People Make Money?

Discussion:

What are some ways that you have earned or made money?

Types of IncomeWage:

Money that is given to someone in exchange for their work.

Paycheck

Do any of our examples fit into this category? If not, let’s brainstorm!

Types of Income Cont.Rent:

Money paid to a landlord by the tenant for use of their property.

Landlord: Person who owns the property that is being rented.

Tenant: Person who is renting the property (Renter).

Do any of our examples fit into this category? If not, let’s brainstorm!

Types of Income Cont. Interest:

Money earned because your money was borrowed or used.

Savings Account

Do any of our examples fit into this category? If not, let’s brainstorm!

Types of Income Cont.Profit:

Income a person or company receives for their goods and services after the expenditures of a company have been subtracted.

Cash for product – Expenses to make and sell the product = Profit

Do any of our examples fit into this category? If not, let’s brainstorm!