Earning Income

Income for most people is determined by the market value of their labor, paid as wages and salaries. People can increase their income and job opportunities by choosing to acquire more education, work experience, and job skills. The decision to undertake an activity that increases income or job opportunities is affected by the expected benefits and costs of such an activity. Income also is obtained from other sources such as interest, rents, capital gains, dividends, and profits.

Related Lessons on Virtual Economics 4.0

  • Making Your Own Job (Financial Fitness for Life: Theme 2, Lesson 5)
  • Looking for a Job (Financial Fitness for Life, Theme 2: Lesson 4)
  • Income and Choices (Your Credit Counts Section 1)
  • Why Do Some People Earn More Than Others? (Capstone, Lesson 15)
  • Uncle Sam Takes a Bite (Financial Fitness for Life: Theme 2, Lesson 7)

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Online Interactives (St. Louis Fed)