How The Economic point Of View Helps

People lives to earn and spend. That is the way human beings are brought up. They are meant to make a livelihood for themselves and their families. Everything has a price and price always means the economy. Having an Economic point of view at times helps the human survive as this way they do not only take care of their family but also their country as the country is basically depended on the economy of it. Understanding the whole of economics in one single article is definitely not possible yet the basis part of the income can be well made understood here.

Types Of Income:

There are different types of income available. One needs to understand that what types they are in details.

Passive Income: this is a type of income which is generally given to self. This can only be eligible for the self employed and the businessmen. One should understand that this kind of income is totally based on the terms and conditions that one has set for their own business. This kind of income is generally generated through a lot of promotion. One can generally use the media to promote their services and products. One may even use the technology nowadays and promote their business through the social media.

One can opt for both the ways of promoting their business. For this kind of income one doesn't need to be physically present everywhere. They can have employees who would basically complete their work. If the employees are not available then they can obviously choose the online sites for promoting as well as selling their services and products. This way they can also save the cost of too much manpower. This type of income gives and an opportunity of being self and may have the most flexible life that one can think of.

Earned Income:

This is a kind of income that a salaried person earns. In this type of income one gets payment from a business that is owned by someone or by a group of people. These kinds of income have its own set of advantages as well as disadvantages. People may gain enough to pay their rent or house loan, they can own a car and pay their bills monthly without a problem. In some cases the company arranges for accommodation and fooding too. The only big problem is that the company pays the employees the amount that they think that the people are worth. Apart from this there is at least a guarantee of fixed income and raise as well as promotion and respect from time to time. Also there is no guarantee that people can have a flexible life at any cost.

The Rare Kind Of Income:

Also known as the Portfolio Income. This is almost same as that of the passive kind of income yet with a twist. This type of income is generally from the investments that are made on the paper assets. The money that one earns here are totally their own and it comes from the bonds, or the mutual funds or the commodities or the deposits etc. Target Income Portfolios should always be kept in mind.

This Author is an economist and has quite the Economic point of view . He has completed his doctoral degree in economics and has an experience of 5 years working as an advisor for a firm. After that he has decided to move on and owns his own firm with special emphasis laid on Target Income Portfolios . He is currently the owner of a firm which he is running for last 8 years.