How to understand "farmers' income consists of four parts, namely wage income, household business income, property income and transfer income"?

1. Farmers’ wage income

Wage income is labor remuneration income. It is the income that farmers obtain by selling their own labor when they are employed by units and individuals. It mainly includes three aspects: first, the employment income of migrant workers in non-enterprises, second, the employment income of local enterprises, and the third, the employment income of local permanent rural residents in other places. Simply put, it is the money earned from part-time work.

2. Property income

Property income refers to the income generated through capital, technology, management and other factors and social production and life activities. That is, the income derived from the movable assets (such as bank deposits, securities) and real estate (such as houses, vehicles, collections, etc.) owned by the family. Including interest, rent, and patent income obtained from the transfer of property use rights; dividend income and property appreciation income obtained from property operations, etc. Simply put, this is the money earned from renting houses, land, etc.

3. Household operating income

Refers to income related to household operations, mainly referring to income from the sale of agricultural products.

4. Transfer income

Refers to various transfer payments made by the state, units, and social groups to households and income transfers between households. Including retirement pensions, unemployment benefits, compensation, etc. transferred by the government to personal income; dismissal benefits, insurance claims, housing provident funds, gifts and support between families, etc. transferred by the unit to personal income. Farmers' transfer income mainly refers to various financial subsidies from the government.