Unit 2 Earning Income

A labor market based on flexible, temporary, independent contractors and freelancers most often connected to customers through an online platform

(Unit 2 Vocab)

• Gig Economy

• Entreprenuer

• Soft Skills

• Human Capital

The required financial contribution levied by the government on an individual's earnings, investments, and certain sources of income, serving as a significant source of government revenue to fund public services, infrastructure, and societal needs

(Unit 2 Vocab)

• Non-Income Factors

• Income Tax

• Social Security

• Capital Gain

The fixed and regular monetary compensation an individual receives for their work based within a specified time frame, often on a monthly or yearly basis

(Unit 2 Vocab)

• Net Pay

• Dividend

• Salary

• Wage

A formal arrangement in which an individual performs specific tasks, responsibilities, or roles within an organization or profession in exchange for compensation

(Unit 2 Vocab)

• Salary

• Income

• Capital Gain

• Job

Personality traits and interpersonal skills that are needed to communicate and work with others

(Unit 2 Vocab)

• Soft Skills

• Opportunity Cost

• Interest

• Career

What percentage of all open (job) positions are filled through networking contacts?

(2.1 Article - How to Find a Job Using Job Boards and Websites)

• 55%

• 85%

• 70%

• 60%

Job postings that are on job boards, but the company isn't actively hiring for the role are known as

(2.1 Article - How to Find a Job Using Boards and Websites)

• Big Boards

• Niche Jobs

• Ghost Jobs

• Job Alerts

Which document is shown in the picture?

• W-2

• W-4

• 1040

• Pay Stub

What information below is not found on a W-4?

• How much money the employee made that year

• Employee Address

• Number of Children or other Dependents

• Extra Withholding

How much money was withheld from Lily's paycheck for Social Security taxes throughout the year?

• 14,450

• 895.90

• 1080.50

• 209.52