You know that people trade money for goods and services, but how do they get that money in the first place?
Most people earn it by working. They receive an income, or money that is paid to them for the work that they do.
Some people may make goods, or products, to earn their money. For example, farmers grow crops. Carpenters build cabinets. Other people may provide services. A service is work that is done for someone else. Plumbers fix leaky faucets, for example. Doctors keep you healthy. Police officers protect you.
Many people have jobs based on the region, or area, in which they live. For example, in coastal regions, some people have jobs related to fishing. In mountain regions, they may work in mining or lumber.
Now, let’s take a look at a family that earns income by making products and providing services.
