Earning an income

NSW Commerce Stage 5 150

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Introduction

In this activity, students investigate how people earn an income, why people work and the different types of work that exist. They also learn that people who earn money may be liable to pay tax and the difference between gross and net income. As part of this activity, students are required to construct a questionnaire and survey members of the school and if possible, the broader community.

This activity contributes to the following outcomes.

A student:

  • applies consumer, financial, economic, business, legal, political and employment concepts and terminology in a variety of contexts COM5-1
  • analyses key factors affecting decisions COM5-4
  • researches and assesses information using a variety of sources COM5-7
  • explains information using a variety of forms COM5-8
  • works independently and collaboratively to meet individual and collective goals within specified timeframes COM5-9.

Related Stage 4 outcomes: COM4-1, COM4-4, COM4-7, COM4-8, COM4-9

Related Life Skills outcomes: COMLS-11, COMLS-12, COMLS-13

Content descriptions

Core 3: Employment and Work Futures

Work and wellbeing

Students:

  • examine the contribution of work to the wellbeing of individuals and broader society, including:
    • the relationship of work to quality of life, e.g.disposable income, health, household economic wellbeing, superannuation accrual, household management
    • contributing to an individual’s self-esteem and material and non-material living standards (ACHEK018, ACHEK020).

The workplace

Students:

  • compare the types of work and work arrangements, including full-time, part-time, casual, at home, paid, unpaid, voluntary, apprenticeships, traineeships (ACHEK020)
  • examine various sources of income, including wages and salaries, commissions, profits and dividends

Teacher resources

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Visualiser

Earning an income

Student learning resources

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Investigation

How and why people earn money

Suggested activity sequence

This sequence is intended as a framework to be modified and adapted by teachers to suit the needs of a class group.

  1. Display and explain information on the visualiser.
  2. Use a grouping strategy to organise students into groups of 4.
  3. Groups begin their investigations.
  4. Groups survey members of the school, home and/or local community.
  5. Groups collate and report their findings to the class.
  6. Students learn to collate the results of the survey into tables and graphs.

    Refer to Building charts and tables – How-to-sheet.

  7. Groups analyse this information, writing short descriptions as to what they see in the data.
  8. As a class, discuss student findings and summarise answers to the inquiry questions.
    • How do people derive an income?
    • Why do people work?
    • How do people work?