 Welcome to this video. Today, you're going to learn the difference between revenue and income. This is a question that a student had submitted and I'm happy to answer it for you. Of course, I'm Jennifer from jforestenglish.com and this channel is dedicated to helping you feel confident speaking English in public so you can take your career and your life to the next level. Now, before we go any further, make sure you subscribe and hit that bell icon so you're notified every time I post a new lesson. Now, let's dive in with this video. So what's the difference between revenue and income? First of all, you only need to know this if you own a business or if you're interested in business topics because if you're an individual who works for a company, if you're an employee, you're employed by a company, all you need to be concerned about is income. Revenue does not apply to you, okay? But you might be interested to know about the revenue that your company generates, but an individual does not generate revenue. A company generates revenue. So just keep that in mind. So for an individual, let's say you work for a company and you're just concerned about the money in your pocket as an employee. What is income? Income is how much money you make from all sources. All sources, okay? So what does that mean? All sources. Well, let's say that you are a full-time employee, okay? And let's say you have a salary and you make $75,000 a year. But in addition to your full-time employment, you're also an artist and you like to paint in your spare time. But twice a year, you go to art shows on weekends and you sell your art. You don't consider this a job because you love painting. It's just a hobby of yours, but your paintings are really wonderful and people want to buy them. So you go to these art shows and you sell your paintings twice a year. And from those art shows, you make $20,000 from your art. So your income is not just the money you get from your employer. Your income is all sources of money that you receive. So of course, your employer is probably going to be the most important income source, I imagine. But if you have any sort of hobbies that you generate money from, even if you have a garage sale and you make $1,000, technically, that's still your income. You sell a bike and you make $100. You would include that in your total income. So your total income is the money you make from all sources. Now, let's go back to the concept of revenue versus income. But remember, this is something that only applies to businesses, small businesses, large businesses, it doesn't matter any type of business. So in a business, revenue is the money generated from all sales. So let's say a company has five different products and each of those products generates some money. And then you add all of those together and that company generates $25 million. That year, that's the revenue, the money generated from all sales. Now what's income in a company? Income is the revenue, which we just learned, the revenue minus the expenses. That leaves you with the income. So let's say you generate that $25 million. But to do that, you needed to spend $10 million in advertisement. So your revenue is $25 million. But your income is your revenue minus your expenses. So your income is $15 million. Now, just in case you're wondering, that is also referred to as net profit. That's just a little bonus expression for you. So there you have it. That's the difference between revenue and income. So now it's your return to practice. Why don't you leave two examples in the comments below when using revenue and when using income. And if you found this video helpful, please hit the like button, share it with your friends, and of course, subscribe. And until next time, happy studying. Awesome job with this video. And hey, maybe I inspired you to get out there and earn some more income. Who wouldn't want that? So there, now you can find a new hobby that generates some income as your total household income. And I'll see you in my next video. Bye.