Which term describes money a person earns from work or business?

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Study for the GMAS 8th Grade Social Studies Test. Prepare with flashcards and multiple-choice questions, each question offers hints and explanations. Get ready for your exam!

Multiple Choice

Which term describes money a person earns from work or business?

Explanation:
Money earned from work or business is called income. It’s the money you receive, like wages, salaries, tips, or profits from a business. Think of income as the inflow of cash into your hands. The other terms describe different ideas: expenses are what you pay out, a budget is a plan for how you’ll use your money, and unruly behavior isn’t related to money. So income is the best fit for describing earnings from work or business.

Money earned from work or business is called income. It’s the money you receive, like wages, salaries, tips, or profits from a business. Think of income as the inflow of cash into your hands. The other terms describe different ideas: expenses are what you pay out, a budget is a plan for how you’ll use your money, and unruly behavior isn’t related to money. So income is the best fit for describing earnings from work or business.

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