What is the difference Between Profits or royalties or wages

Royalty is payment to the legal owner to use his copyrighted or patented work.

Profit is a financial advantage that is realized when total revenues exceed total costs.

Wages are daily payments made to a worker for his work or services.

Royalties are passive income while wages are active income. Profits can be active or passive. Financially free people prefer royalties and profits over wages. And they delegate active management of their businesses to managers and do not get involved in the day to day business activities.