is it possible to generate income from Facebook?

You can browse through applications, and put in a search for making money online and they may provide you an application that can help you. Other than that, not sure if you can earn anything from it.

I dont know about making money on facebook, but I make money on Yuwie! Its also easy to use and the people on there are very friendly! The best part is, you get paid for social networking! They pay for pageviews, blogs, posting pictures, etc. Earnings are slow until you get referrals, but at least its more than i make using facebook (which is $0)! There is a link in my profile if you would be so kind as to check it out and join me! If you have any questions, just let me know!

I don't feel like there are all that many opportunities to make profit off of Facebook. You can sell products within your network of course, but as far as just generating revenue over the internet, I don't think there is that great of a possibility. If you wrote for Associated Content you could share your link for your articles on there, you could also share affiliate links for MyLot there, but other than that I don't think so.

It is very possible to make money on facebook - IF you can program - Facebook Application Developers can make bank if they can find a good Niche.