Unit 3 Vocabulary Quiz

Israel is curious about different types of income. What is earned income?

• Gifts or inheritances

• Money received from investments

• Money received from work or services.

• Government benefits or subsidies

What is profit income in the context of a small business run by George?

What is appreciation?

• Appreciation is the recognition of value or worth, or an increase in value over time.
• Appreciation is the act of acknowledging someone's efforts.

• Appreciation refers to a decrease in value over time.
• Appreciation is a form of currency used on a crypto wallet

Michael bought a car for his business. What is depreciation?

• Depreciation is the reduction in the value of an asset over time due to wear and tear, obsolescence, or age.

• Depreciation is the process of selling an asset for a profit.

• Depreciation refers to the total cost of an asset at the time of purchase.

• Depreciation is the increase in the value of an asset over time.

Kai opened a savings account and noticed an entry labeled as interest income on his statement. What is interest income?

Grace received a payment from the shares she owns in a company. What type of income is this?

• Dividend income is the income earned from owning shares in a company, distributed as dividends.

• Income from selling shares at a profit

• Interest earned on savings accounts

• Rental income from property

Henry owns a small apartment building and rents it out to tenants. What is rental income?

• Income from selling property

• Profit from property appreciation

• The income generated from leasing out property.

• Revenue from property management services

Priya recently sold her shares in a tech company. What are capital gains income?

Evelyn wrote a book and receives payments whenever it is sold. What is this type of income called?

What is per capita in the context of a city's population?