Changes

(3) Allow someone to use your land in exchange for rent.

(3) Allow someone to use your land in exchange for rent.

(4) Start a new business to earn profits.  But watch out here: 9 out 10 new businesses fail!

(4) Start a new business to earn profits.  But watch out here: 9 out of 10 new businesses fail!

Sounds simple enough, right?  Look around you, and you’ll see people earning money each of the four above ways.  Mostly, you’ll see the first way: get a job and earn some wages.  That entails the least risk and is the easiest for most people.  Adults and teenagers often follow the path of least resistance, and often imitate others.  In economics, that means getting a job to work for a company.  It’s great until the job becomes tiresome or the boss fires you.  Then it’s not so great anymore.  But as a teenager you can earn money from someone else while you are learning how business works.  You need experience and savings before you can even try to make money the other three ways.

Sounds simple enough, right?  Look around you, and you’ll see people earning money each of the four above ways.  Mostly, you’ll see the first way: get a job and earn some wages.  That entails the least risk and is the easiest for most people.  Adults and teenagers often follow the path of least resistance, and often imitate others.  In economics, that means getting a job to work for a company.  It’s great until the job becomes tiresome or the boss fires you.  Then it’s not so great anymore.  But as a teenager you can earn money from someone else while you are learning how business works.  You need experience and savings before you can even try to make money the other three ways.