Income and Employment

Money received, especially on a regular basis, from work, investments, or other means is called...

• Savings

• Income

• Cash

• Investments

Which of these can be considered income?

• Money from work

• Money from retirement

• Money found on the ground

• Allowance Money

Employment is...

• When you do a favor for someone.

• When your dad asks you to do chores.

• When a person cannot find work after looking for a job for more than 4 weeks

• When a person works or completes tasks for another person or company, and in exchange receives some form of payment

Temporary Employment is...

• When a person is only employed part-time and does not work full-time hours.

• When a person is fired or quits after a short period of time.

• When a person is employed until a set date, or until a specific task is completed.

Which of these describes Salary based employment?

• Pay is based on an annual amount

• Often receives benefits from their job such as health insurance and a retirement plan.

• Receives money based on the number of hours worked.

• May have and employee contract

Which of these does not describe Hourly Work?

• Is paid based on an annual amount.

• Is paid a set amount each hour.

• Is paid only for hours worked.

Billy has offered to walk his neighbors dog every day for one week while she is on vacation. She has agreed to pay billy $10 for every day he works. Billy's work can be considered...

• Temporary Employment

• Permanent Employment

Catherine just started a job at a new store that opened in town. Catherine's boss agreed that she be paid $12 for each hour she works. Catherine's work can be considered...

• Salary based

• Hourly based

Margaret just opened a restaurant in the city. She wants to hire a chef and a valet and has agreed to pay them based on a set amount for the year. This type of pay is considered...

• Salary Based

• Hourly Based

Jacob is excited to start his new job as a doctor this week. He was offered a contract and gets paid a certain amount per year (or annually). Jacob's new job can be considered...

• Permanent Employment

• Temporary Employment