Which term is money you earn by working, investing, or producing goods?

Prepare for the IELTS Academic Writing Task 1 exam. Enhance your skills with quizzes featuring flashcards and multiple-choice questions, all accompanied by hints and explanations. Gear up for success!

Multiple Choice

Which term is money you earn by working, investing, or producing goods?

Explanation:
Money you earn by working, investing, or producing goods is best described as income. Income is the broad term for money received over a period from any source—wages and salaries, profits from a business, interest or dividends from investments, rents, and more. It captures all the ways someone can bring money in, not just one specific source. Earnings is similar but more specific, often used to refer to money earned from work or from investments, sometimes within a particular context. Salary denotes a fixed regular payment from an employer, and revenue refers to the total income a business collects from selling goods or services, not an individual's earnings. Example: "Her income comes from a salary plus investment dividends."

Money you earn by working, investing, or producing goods is best described as income. Income is the broad term for money received over a period from any source—wages and salaries, profits from a business, interest or dividends from investments, rents, and more. It captures all the ways someone can bring money in, not just one specific source.

Earnings is similar but more specific, often used to refer to money earned from work or from investments, sometimes within a particular context. Salary denotes a fixed regular payment from an employer, and revenue refers to the total income a business collects from selling goods or services, not an individual's earnings. Example: "Her income comes from a salary plus investment dividends."

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy