Income
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About
Income is money received regularly by a legal entity, most often a person. If it is received in exchange for work (i.e. employment), then it is also a wage.
Types of income include:
- Issuepedia-refined terms:
- guaranteed income: an income that is guaranteed (promised, ensured) by another party, typically a government
- living income: an income sufficient to meet basic needs
- non-employment income: income that is not the result of employment status
- unconditional income: income that is received regardless of life circumstances
- combinations:
- guaranteed living income
- unconditional living income: e.g. living on investment or retirement income
- unconditional guaranteed living income
- aliases:
- ambiguous terms:
- basic income can mean either unconditional basic income (conventional usage) or living income (Issuepedia)
- minimum income can mean either guaranteed minimum income or unconditional income
Related
- Economic disparity is sometimes referred to as income disparity or income inequality.
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