CLIL - What Are Income and Wealth?

economIA 227 cLIL - What Are Income and Wealth? CLIL - WHAT ARE INCOME AND WEALTH? AUDIO Income and wealth are often used interchangeably, but they are not synonymous: income is a flow concept, it is the amount of money that someone receives on a regular basis; it comes from different sources such as salary, rent, profit, interest etc. wealth is a stock concept, it represents the total market value of all the assets possessed, stored, or saved by a person for future use, like savings in a bank account, ownership of property, wealth held in pension schemes and so on. Even though they are different concepts, they are related to each other because income is what helps in the creation of wealth. We can say that income is earning money while wealth is having money . Therefore, what you do with the money you earn has a profound impact on your wealth. If you have a high income and spend most of your money to lead a luxurious lifestyle, you are not building any wealth. But once you have an income that is enough to cover your basic needs you can start to save money and increase your wealth. One of the key elements in order to develop your wealth is to personalise your lifestyle in such a way that it creates a balance between your current income, your consumption and what you intend to have in the future. 1. Choose between income and wealth. 1. Wages and salaries Income Wealth 2. Savings held in bank deposit accounts 3. dividends distributed to shareholders 4. ownership of property 5. Life insurance policies 6. Profits flowing to businesses 7. Interest paid to those who hold money in deposit accounts 2. answer the following questions. 1. What s the difference between income and wealth? 2. do you have an income? 3. How much money did you spend yesterday? 4. Which is more fun for you: spending money or saving money? Why? 5. Should minors have a weekly allowance ? Why? / Why not? If yes, how much?

Diritto ed economia. Istruzioni per l’uso
Diritto ed economia. Istruzioni per l’uso