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