1. Reasons individuals work

2. The labour force The labour force is made up of:
all people who have jobs (employed) and
those who are actively seeking work (unemployed).

3. What type of work will satisfy my personal and financial objectives?
What is work?
DEFINITION: Physical activity or mental effort directed towards producing a good or service.
What type of work will satisfy my personal and financial objectives?
Have you ever done odd jobs around the house and received pocket money in return? Yes. Well you have already been involved in the world of work. In Economics and Business, work is defined as ‘physical activity or mental effort directed toward producing a good or service.’

4. Reasons for working Why do people work? Financial Reasons for work
Personal
Social
There are lots of different reasons people choose to find a job and start working.
These reasons can be broadly categorised as financial, personal and social reasons.

5. Financial reasons A reliable source of income allows people to:
meet daily living expenses
support their lifestyle
purchase material goods and services
improve their standard of living.
One of the main reasons people join the labour force, is to receive an income in return for their time and effort. This income allows people to meet their daily living expenses and support their lifestyle.
They can also use their income to purchase material goods like cars and houses and improve their standard of living.

6. I really love working with animals all day!
Personal reasons
I really love working with animals all day!
Some people find work brings happiness by helping to:
build a sense of purpose
develop self-esteem
gain new skills and experiences
explore one’s interests.
While not everyone enjoys their job, some people obtain great happiness from their work. For example, going to work each day can give people a sense of purpose, as well as develop their confidence in their abilities and improve their self-esteem. Others like working because they are able to gain new skills and experiences and a lucky few, like our happy vet here, find their work very satisfying because it allows them to explore their interests and get paid for it!

7. I love listening to other people’s stories while I work!
Social reasons
Jobs often involve working with or providing a service to others so workers can:
use skills and abilities to help others
contribute to the community
meet new people
belong to a team
share their passion for their work with co-workers.
I love listening to other people’s stories while I work!
Other than for financial and personal reasons, people also work because jobs are highly social – they usually involve working with or providing a service to others.
Some people like using their skills and abilities to help others and contribute to the community, or to simply get out of the house and meet new people. Others find it rewarding to belong to a team of people who have similar interests and passions.

8. Unemployed To be considered unemployed, a person must be: without work
available for work
actively seeking work.

9. Ridicule and prejudice
Costs of unemployment
Costs of unemployment
Poverty
Boredom
Loss of self-esteem
Loss of skills
Ridicule and prejudice
Discrimination
Poor health
Isolation