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Work, Poverty and Welfare > Income > Flashcards

Income Flashcards

1
Q

Definition

A

Monies recieved by an individual over a specified time period (usually a year)

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2
Q

Examples (5)

A 
Paid work (salary)
Rental Income
Pensions
Dividends
Benefits
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3
Q

Earned Income vs Unearned Income

A

Money from paid employment vs money from investments- passive income from unpaid employment

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4
Q

Disposable Income vs Discretionary Income

A

Money left after taxes vs money left after taxes and all the essentials have been bought

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Work, Poverty and Welfare (12 decks)

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