Page 9 - WorldCom Edu Reading for Vocabulary Plus Series - Book A

ECONOMY Social Studies

Read the story below. track 1
Social Studies
ECONOMY
Lesson 1 Money

We all want to have money, and often want a lot more

than we have. Where do we get money from and what do we

use it for?
We earn money from doing work. Some people work

for a company, others for themselves or for the government.
The money we get from our job is called income . Children

who don’t have a job can still have an income. Often parents

give their children an allowance. They may have to work
around the house doing chores for the allowance, or just be

good.

We all should make a budget for our income. If you

spend all your income on the first day, then you won’t have
any money until next payday. And if you spend more money

than you earn, you have to borrow money. You can borrow

8 Lesson 1