Question

im stuck. i kind of skipped all of the pages this was supposed to teach me and don't know how to get back. can someone explain any of this? i don't need the answers I just nee this put into more plan text. google hasn't helped


Two main sources of income are regular income, such as from a full-time job, and side income, which is any money earned outside a regular job. Active income and passive income can provide enough money to replace a regular job. Discuss some of the effects of various income sources on the economy, both for individuals (microeconomics) and the population as a whole (macroeconomics). Select one of the prompts. In your response, explain your reasoning and be sure to discuss specific types of income.

Prompt 1
Individuals: What happens if someone with lots of side income loses their main job? What if someone without a lot of side income loses their main job?
Population: What would happen if everyone built side income? How might that affect the economy on a larger scale?
Prompt 2
Individuals: Some people work multiple part-time jobs to make ends meet. Others have a large salary but work over 50 hours per week. Many people have physical or other challenges. With these considerations, who has the time and money to invest in building side income? Who might not? Are there other situations that make it harder or easier to build side income?
Population: Is side income a viable solution to poverty?

Answer 1

Income is how much money you make

They define two types of income:
1. regular (from a person's full time job)
2. side income (which a person earns from the side, like a side business or investments, etc.)

They want you to talk about how different income sources affect individual people, as well as the whole population.

Answer 2

They give you two prompts, you choose either one:


Prompt 1
Individuals: What happens if someone with lots of side income loses their main job? What if someone without a lot of side income loses their main job? ---> (How would losing a job affect a person with side income? And a person without side income? How would it be different for these two types of people?)

Population: What would happen if everyone built side income? How might that affect the economy on a larger scale? ---> (if everyone had a source of side income, how would that affect the whole economy?)

Prompt 2
Individuals: Some people work multiple part-time jobs to make ends meet. Others have a large salary but work over 50 hours per week. Many people have physical or other challenges. With these considerations, who has the time and money to invest in building side income? Who might not? Are there other situations that make it harder or easier to build side income? ----> (Different people have different work situations. How do those factors affect a person's ability to get side income? And what are other things, besides what's already mentioned, that can affect this?)

Population: Is side income a viable solution to poverty? ---> I think this one is self-explanatory, albeit a complicated question.

Answer 3

Does that make sense? Is there any vocab or ideas that are still confusing?

Answer 4

thank you! i had forgotten i posted this