Finer grained standards that are part of this one
People have many different types of jobs from which to choose. Identify different jobs requiring people to have different skills.
Workers are paid for their labor in different ways such as wages, salaries, or commissions. Explain the ways in which workers are paid.
Describe ways that people who own a business can earn a profit, which is a source of income.
People can earn interest income from letting other people borrow their money. Explain why banks and financial institutions pay people interest when they deposit their money at those institutions.
Entrepreneurs are people who start new businesses. Entrepreneurs do not know if their new businesses will be successful and earn a profit. Identify ways in which starting a business is risky for entrepreneurs.
People can earn income by renting their property to other people. Identify different types of property (such as apartments, automobiles, or tools) that people own and on which rent is paid.
Income earned from working and most other sources of income are taxed. Describe ways that the revenue from these taxes is used to pay for government provided goods and services.
People earn an income when they are hired by an employer to work at a job. Explain why employers are willing to pay people to do their work.