LESSON 17.9 Review 17.9.1
Key knowledge summary Use this dot point summary to review the content covered in this topic. 17.2 Why do people work? • Work is important for everyone. It helps us buy what we need and want. Work also has beneýts that don’t involve money. • People work for different reasons: to earn money, to improve living standards, to gain prestige, to obtain self-satisfaction, to make friends and to help others. 17.3 What types of work are there? • Work can be paid or unpaid. • Work can be voluntary, and volunteers make an important contribution to the community. • More men than women are in full-time employment. Women tend to have more part-time or casual employment. 17.4 How do you earn an income? • Sources of income include work, owning a business, being a shareholder or providing a rental service. 17.5 What is the role of entrepreneurs? • An entrepreneur takes on a risk by starting any business with an idea, hoping to make a proýt through initiative and enterprise. • Any person, of any age, can be an entrepreneur, as long as they have a great idea and the determination to make it happen. • Business owners manage daily operations to make a proýt. They reduce risks and make smart decisions. They may have ideas to solve problems and meet customer needs. 17.6 What responsibilities come with working? • Entrepreneurs and workers are obliged to comply with government legislation related to their work. • Paying taxes is a key responsibility for workers and entrepreneurs. • Our tax system is a progressive tax system. • Taxes are used by the government to pay for government services. 17.7 How are Aboriginal and Torres Strait Islander Peoples entrepreneurs? • Aboriginal and Torres Strait Islander entrepreneurs are innovating and building strong business ventures. • Many Aboriginal and Torres Strait Islander entrepreneurs incorporate community support into their ventures. 17.8 Inquiry: Who are the innovators and entrepreneurs? • Entrepreneurs and innovation enable goods and services to be more successful. 17.9.2 Key terms casual an employee who works only when needed cooperative a farm, business or other organisation owned and run jointly by its members, who share the proýts or beneýts enterprise the creative or bold efforts made by someone to achieve something new entrepreneur a person who takes on a risk by starting a business with an idea, hoping to make a proýt through initiative and enterprise
618 Jacaranda Humanities Alive 7 Victorian Curriculum Third Edition
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