Income

Question 1

Benefit

Answer 1

A payment made by the government to people in need such as the old, sick, unemployed.

Question 2

Commission

Answer 2

Income earned per item sold

Question 3

Dividend

Answer 3

Income earned from owning shares

Question 4

Endowment

Answer 4

The benefits the someone is born with e.g. Royalty

Question 5

Fees

Answer 5

Income charged for professional services e.g. Dentist

Question 6

Gambling

Answer 6

Income from taking a chance

Question 7

GDP

Answer 7

The value of goods and services produced in an economy in a year

Question 8

GDP per capita

Answer 8

The value of goods and services produced in an economy in a year per person

Question 9

Inheritance/legacy

Answer 9

Money left to you by someone who has died

Question 10

Interest

Answer 10

Income earned allowing people to use their money e.g. Savings or loaning it out

Question 11

Opportunity

Answer 11

The chances that open up for you over the course of your life

Question 12

Patents

Answer 12

When someone has the sole right to produce and item

Question 13

Pension

Answer 13

Another name for the benefit paid to old people once they reach 65

Question 14

Perks

Answer 14

Rewards for working that are not income e.g. discounts or free goods

Question 15

Profit

Answer 15

Income earned by the owner of a business

Question 16

Rent

Answer 16

Income earned from owning land

Question 17

Royalties

Answer 17

Payment to writers and entertainers for the sale of their books, music

Question 18

Salary

Answer 18

Income earned per year from working but usually paid per fortnight

Question 19

Skills

Answer 19

The abilities that you can develop e.g. through education

Question 20

Superannuation

Answer 20

Income received by people who have retired

Question 21

Time

Answer 21

The number of hours a person has available to them to gain income

Question 22

Wage

Answer 22

The income-based on a rate per hour earned from working