How do you make money?

Program for this lesson
  • Review of the previous lesson
  • Primary income and transfer income
  • Assignments 2.1 & 2.2 (homework)
  • Assignment 2.3
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Slide 1: Slide
EconomieMiddelbare schoolvwoLeerjaar 3

This lesson contains 16 slides, with interactive quizzes, text slides and 1 video.

time-iconLesson duration is: 45 min

Items in this lesson

Program for this lesson
  • Review of the previous lesson
  • Primary income and transfer income
  • Assignments 2.1 & 2.2 (homework)
  • Assignment 2.3

Slide 1 - Slide

Lesson objectives
1. You can name the four factors of production and give an example of each one of them. 
2. You can link the four factors of production to the five primary incomes. 
3. You can name the main difference between a primary income and a transfer income. 

Slide 2 - Slide

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Slide 3 - Slide

Factors of production

  • Capital
  • Labour
  • Nature
  • Entrepreneurship
Productiefactoren

  1. Kapitaal
  2. Arbeid
  3. Natuur
  4. Ondernemerschap

Slide 4 - Slide

Factors of production
  • Capital
  • Machinery, buildings, materials
  • Labour
  • The work that people do
  • Nature
  • Land, sunlight, natural resources
  • Entrepreneurship
  • The entrepeneur coordinating the production process

Slide 5 - Slide

Five primary incomes
  1. Salary or wage
  2. Interest
  3.  Rent
  4. Lease (pacht)
  5. Profit

Slide 6 - Slide

Drag the right primary incomes to the factors of production. 
Lease
Profit
Capital
Labour
Nature
Entrepeneurship
Salary
Interest or rent

Slide 7 - Drag question

Transfer income
Transfer income = an income which you get without having to do anything in return.

  • Old Age Pensions Act
  • Housing allowances

Slide 8 - Slide

From Dad...
...To Son/Daughter

Slide 9 - Slide

Is maintainance (alimentatie) an example of a primary income or transfer income?
A
Primary income
B
Transfer income

Slide 10 - Quiz

What is the main difference between a primary income (wage) and a transfer income (pocket money)?

Slide 11 - Open question

Assignment 2.1 
  • a. The minimum age to work in a supermarket is 13 years old. 
  • b. Wage or salary

 

Slide 12 - Slide

1

Slide 13 - Video

01:03
Imagine: you are 13 years old and you work at a supermarket. You have 7 hours of school on Friday. How many hours are you allowed to work in the supermarket on Friday?
A
Not more than 2 hours
B
Not more than 1 hour
C
Not more than 3 hours
D
Not more than 30 minutes

Slide 14 - Quiz

Assignment 2.2 
  • a.  The people who take part in the production process have to pay taxes and contributions. These taxes and contributions end up in a kitty from which the transfer incomes are financed. 

Slide 15 - Slide

Assignment 2.3
Fill in the table on page 23. 

Slide 16 - Slide