Income
Noun
UK
/ˈɪn.kʌm/
US
/ˈɪn.kʌm/
Definition
Money earned by a person or business from work, business, or other sources.
Example
"His income is enough for his family."
"The company’s income increased after selling more products this year."
"People use their income to pay for food, rent, and other daily expenses."
Explanation
Income is the money a person or business earns from work, business, or other sources. For example, her monthly income comes from her job and freelance work. Income can be salary (paid every month), wages (paid weekly or daily), profit, or any money you receive. People use income to buy things, save money, or pay bills. Governments sometimes take a part of income as tax to pay for services like schools, roads, and hospitals, even if the money doesn’t always go there.