Learn › Economics glossary › Work and what it pays

Economics glossary · Work and what it pays

Interest

What interest means in economics, as one of sources of income, with an example and a question to test yourself.

Definition
Interest
Interest is payment for lending money, such as savings held in a bank account or a government bond.
Example

Can you think of an example of interest?

Test yourself

Can you name five sources of income?

Learn it properly: the module

Related terms