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WorksheetsIncome and Wealth
Total questions: 10
Worksheet time: 5mins
Which of the following are examples of income
Pension fund
Savings
Salary
Shares
Welfare benefits
Wealth is best defined as...
The total income an individual generates
The value of savings and property
The value of all capital stock held
How much money an individual has
A tax on income is best described as:
An indirect tax
Income tax
A direct tax
VAT
How is income and wealth redistributed
By having different entry/skill requirements for jobs
Through choice of how to spend/invest earnings
Through taxation
Through population migration
Sam has a salary of £2,000 per month. He has savings of £10,000. In addition to this he has saved £3,000 into a pension fund. He earned £50 interest last month. His wealth is:
£15,050
£10,000
£15,000
£13,000
Complete the sentence. The richest 20% own..
40% of total wealth
50% of total wealth
60% of total wealth
70% of total wealth
Which of the following are consequences of inequality
Poverty
Enterprise
Poor health
Economic growth
According to the Forbes rich list 2019, the wealthiest individual last year was..
Bill Gates
Warren Buffett
Jeff Bezos
Mark Zuckerberg
This terms describes the income received from shares.
Interest
Dividend
Capital
Stock
Tom has a salary of £40,000 per annum. He pays £7,000 in tax. He also owns property worth £250,000. What is his net income?
£40,000
£47,000
£33,000
£290,000
