Basic Details
Word: Income
Part of Speech: Noun
Meaning: The money you earn from working or from investments.
Synonyms: Earnings, revenue, salary, wages
Antonyms: Expenses, costs
Idioms and Phrases
- In the black: Means having a positive income, or making a profit. Example: "After careful budgeting, the company is finally in the black this quarter."
- Living beyond your means: Spending more money than you earn. Example: "He realised he was living beyond his means when he couldn't pay his bills."
Usage Examples
Example 1: Her income from the new job allows her to save money for a holiday.
Example 2: The family's income has increased due to a promotion at work.
Example 3: It's important to manage your income wisely to avoid financial difficulties.
Fun Fact
The word "income" comes from the Old French word "incomer," which means to come in, reflecting how money comes in as earnings.
Famous Quote
"Do not save what is left after spending, but spend what is left after saving." Warren Buffett
Multiple Choice Questions (MCQs)
1. What does "income" mean?
a) The money you spend
b) The money you earn
c) The money you borrow
d) The money you give away
Answer: b) The money you earn
2. Which of these is a synonym of "income"?
a) Debt
b) Salary
c) Expense
d) Bill
Answer: b) Salary
3. Which of the following is an antonym of "income"?
a) Pay
b) Income tax
c) Expense
d) Profit
Answer: c) Expense
4. Which sentence uses "income" correctly?
a) I had to reduce my income to save money.
b) She received her income in the form of a gift.
c) His income helps support his family.
d) They could not find their income anywhere.
Answer: c) His income helps support his family.
5. What does "living beyond your means" mean?
a) Earning a lot of money
b) Spending more money than earned
c) Saving money wisely
d) Working more hours
Answer: b) Spending more money than earned
