BMF I Unit 3-4 Vocabulary

money received as pay for work performed, such as wages, salaries, bonuses, commissions, tips, and net earnings from self-employment

• Earned Income

• Unearned Income

• Minimum Wage

• Pay Scale

Money payments for labor 

• Tips

• Salaries

• Wages

• Commissions

Money payments for labor on an hourly, daily, or weekly basis

• Tips

• Salaries

• Wages

• Commissions

A percentage of the total sale amount paid to the individual or business that makes the sale

• Tips

• Salaries

• Wages

• Commissions

income not acquired through work

• Earned Income

• Unearned Income

• Minimum Wage

• Pay Scale

are income from investments

• Interest

• Gifts

• Earned Income

• Dividends

the amount of money needed to cover basic expenses such as housing, food, taxes, and healthcare in a certain place and time period.

• Minimum Wage

• Standard of Living

• Cost of Living

• Earned Income

The reward or cost of lending or borrowing money, usually figured as a percentage of the amount

• Interest

• Gifts

• Earned Income

• Dividends

the financial benefit realized when revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity in question

• Interest

• Profit

• Cost of Living Benefit

• Standard of Living

calculated as total revenue less total expenses

• Interest

• Profit

• Cost of Living Benefit

• Standard of Living