1. 9 – Income: gaining money Identify the different ways in which individuals and families obtain an income. Define the various sources of income.

2. Types of income Wages Salary Fee Commission

3. Income from owning things. Define: Rent Dividend Royalty Profit Interest Admission Fees Hire Fees

4. The song ‘Happy Birthday’ was written by two spinsters in 1893 and was first copyrighted in 1935. It continues to generate around $2 million in royalties each year. Task – Which other songs generate high royalties? http://www.getlisty.com/preview/slideshow- top-2009-music-money-earners/ http://www.getlisty.com/preview/slideshow- top-2009-music-money-earners/

5. Income transferred from others. Gifts Gambling Legacies Welfare benefits cash prizes Life assurance Accident compensation

6. Task 1 Define – income, wages, salary, fee, commission, dividend, royalty, copyright, legacy. What % does real estate agents earn when they sell a house? How could a household survive without having income to satisfy needs and wants? Name 6 jobs and state the duties involved and the income you would earn.

7. Task 2 Explain why it is illegal to copy music from CDs, radio, internet etc. Give your opinion to if this is fair. Explain what the word ‘copyright’ means. Identify the factors that might stop someone from using pirated software.

8. Task 3 – Is it fair that.. An author may be earning royalties today from a book they wrote 15 years ago. An heiress inherits a valuable commercial property. The rents keep her in luxury. The Queen lives in a wonderful house. She charges visitors to look round. A plumber receives ‘cash in hand’. You pay less, he doesn’t pay tax.

9. Task 3 Explain whether or not you believe welfare stops people from being poor in NZ or not. Is welfare a ‘safety net’ or a career?