G5 U1 W1 Vocabulary

wages

• Wages are a type of tax imposed on income.
• Wages refer to the total amount of money a company has.
• Wages are benefits provided to employees for their health.
• Wages are payments made to workers for their labor.

What is the primary purpose of wages?

• To provide employees with health benefits.

• To compensate workers for their labor.

• To increase the company's total revenue.

• To impose a tax on employee income.

Which of the following best describes wages?

• A type of tax on income.

• A company's total financial assets.

• Payments made to employees for their work.

• Benefits provided for employee wellness.

How are wages typically determined?

• Based on the company's total revenue.

• According to the hours worked and agreed rate.

• By the amount of tax imposed on income.

• Through employee health benefit programs.

profit

• Profit is the loss incurred from investments.
• Profit is the financial gain from business activities.
• Profit is the amount spent on production.
• Profit is the total revenue from sales.

risk

• Risk
• Chance
• Uncertainty
• Hazard

Money paid to an employee on an hourly basis is

• A wage

• A salary

• Compensation

• A commission

scarce

• Abundant and widely available
• Rarely found but highly valued
• Common and easily accessible
• Scarce means in short supply or limited availability.

Money paid to an employee on an hourly basis is

• A wage

• A salary

• Compensation

• A commission

savings

• Investments
• Expenses
• Debt
• Savings