economy

definition of income

Income is a concept fundamentally linked to the economic context, but that can refer to several issues at the same time.

Because rent for example is any form of income, either that which comes from the rental of a property or land that belongs to us and for which each month we receive an amount previously stipulated with the tenant. Also the word rent refers upon income, the sum of money monthly, biweekly, weekly, that workers receive as a result of the performance of the work for which they were hired in a timely manner.

The latter would be the income that is received in exchange for completing a job and that is paid by the company that hires us, while there is also the Universal Basic Income which is the proposal of an income paid by the State and which would also ultimately be the right that the citizens of this world have, regardless of nationalities, cultures, religions or any other form of differentiation that occurs to them, to receive periodic income as a result of the performance of some work either in a dependency relationship or in a way independent and that will serve to cover our most basic needs such as feeding ourselves, receiving an education, dressing, etc..

Among the most important characteristics of this are: that it has an individual scope, it is received by each person individually, thus avoiding any public expense that adds more bureaucracy; universal, that is, it does not depend on the person who receives it making a prior contribution; unconditional, since it will not take into account another type of income of the beneficiary, nor will any consideration be claimed and finally, the amount that will depend on the amount necessary to meet and cover basic needs.

Likewise, income, when accompanied by the term fixed, fixed income, refers to the interest that a financial entity gives us for the purchase and holding of bonds. And on the other hand, we have the variable income that is the one that comes from the Stock Market as a result of the continuous fluctuations or changes that the stock prices undergo, for example.

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