Chapter 2 Vocabulary "Working and Earning"

money received for working, wages regular salaries or tips or money received for labor (work).

• commission

• tips

• wage

• earned income

money earned as a percentage of sale.

• internship

• formal education

• commission

• salary

Money received from sources OTHER than working (money received for labor)

• cost of living

• earned income

• unearned income

• tips

money from a customer for good friendly services

• pay check

• tips

• wage

• commission

money paid for hourly work, ( retail, service industries, store sales)

• salary

• pension

• tips

• wage

the lowest amount that a company can legally pay by the hour is

• salary

• minimum wage

• cost of living

• tips

payment of a fixed amount of money intervals

• commission

• net pay

• salary

• wage

the level of prices relating to range of everyday items

• allowance

• salary

• cost of living

• tips

happens in the classroom; as you finish high school, you complete one level of formal education, college and graduate school.

• internship

• informal education

• apprenticeship

• formal education

training that happens outside of a traditional school. It happens on the job like apprenticeship or internship.

• formal education

• informal education