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For this activity, you will work in groups of 4. Your group’s task is to investigate answers to the following questions: How do people derive an income? (For example, employment, self-employment, assets, superannuation, government allowance.) Why do people work? (For example, to earn money, to buy things they need or want, for independence, to learn, to gain skills, to make friends, to contribute to society, to be happy.) How do people work…

Everyone is different. Some people are natural savers, some are natural spenders and others are somewhere in between.Read the following profiles of young people your age.Profile 1:Tim is 13 years old. His parents give him $20 pocket money each week. He spends $30 a month on a pre-paid phone, and if his credits expire, he waits for the next month to arrive before he tops up. He also budgets $20 a month for entertainment. His parents buy his…

As entrepreneurs you are going to open a hypothetical dog-walking business. Entrepreneurs assume risks and then keep track of income and expenses to inform decision-making and fulfil legal requirements. In your groups, decide on a name for your business and how much you will charge per dog per 10 minutes. Scenarios Day of the week Number Activity Monday 1. Bought 2 new leashes at $20.00 each. Tuesday 2.…

Step 1: Determine your financial position Your weekly income Your weekly expenses Remaining (if you spend more than you earn, use a negative sign) What financial position are you in? Do you currently: Spend less than you earn? That’s great news, but with some planning and discipline, you can improve. Spend what you earn? You’re living within your means, which is good…

Student instructions You are to collaboratively work in groups of 4 to develop a series of questions (and answers) to play snakes and ladders. Use the results from your group and class brainstorming session to develop a list of questions beginning with the stem: What is this? The answer can include one or more of the following options: good or service provided by governments good or service produced by the free-market with social benefits…

Think of as many examples as you can for each of the categories listed below. Good or service provided by governments: Good or service with social benefits that are provided by private enterprise: Goods or services with social costs: Cash benefit provided by the Australian Government to individuals and families:   Linked activity…

Taxes are a big part of our lives and the government uses them to pay for all kinds of important things, like roads, hospitals and schools. Part 1: Village and the Boy Named Tax Watch: Village and the Boy Named Tax and answer the questions below. What did Tax do that was good for everyone? Why did the villagers think Tax was bad? Why did the villagers send Tax away? What made the villagers realise they had made a mistake by sending Tax…

Taxes are a big part of our lives and the government uses them to pay for all kinds of important things, like roads, hospitals and schools.  All 3 levels of government in Australia work together to provide the goods and services needed by Australians. Everyone benefits from government spending, including you. Refer to table 1 to see which government services you might use each day. Table 1: Things you might do in a day and the level of…