Human Capital
The education, skills, experience, and ideas a person has to offer.
Human capital?
The work a person does.
Labor?
The money a person earns.
Income?
A plan of how a person will spend, save, and donate their income.
Budget?
What types of human capital are mentioned below?
Kylie went to Texas Tech school of Veterinary Medicine and got her doctorate degree, She has been a vet for 3 years now.
Education and experience
Kathrine graduated with a Master's degree in engineering, and she makes $25 an hour designing roller coasters. What is her labor?
Designing roller coasters
Emily and Matthew are both teachers. Emily has her Master's Degree and has been teaching for 10 years. Matthew has a Bachelor's Degree and has been teaching for 12 years. Who has a higher income?
Emily
What are the three ways of using income a person must plan a budget for?
Saving, spending, and donating
Marcus and Sarah are both applying for a job as a detective. They both graduated from the police academy. Marcus has a bachelor's degree in criminal justice and has been a cop for 5 years. Sarah has been a cop for 7. Who has more capital?
Marcus
If Robert is a police officer who works 40 hours a week, how many hours of labor does he do in 6 weeks?
240 hours of labor
Mary works two jobs She makes $10 an hour at each job. Last week she worked a total of 50 hours. What will her income be?
$500
Jamie makes $500 a week. This week she plans to first make her car payment of $250 and then save $100. How much does she have left to spend?
$150
Hannah and Chris both work at Apple, doing the same job and working the same number of hours, but Hannah makes more money. Why might that be?
Hannah has a higher level degree,
Hannah has more work experience,
or Hannah is more skilled at her job, so her boss gave her a raise.
Mark spent four years in college getting a bachelor's degree. Then he spent four more years at University of Texas School of Medicine. What kind of labor is he ready to do now?
He is a doctor.
Zachary is a fireman that makes an income of $45,000 a year when he begins working. He gets a raise of $1,000 a year after that. How much will his income be after he's worked for 8 years?
$52,000
Jack works as a carpenter and has an income of $1,000 a month. He pays his bills with $250, buys groceries for $100, gives $350 to a charity, puts $250 in the bank, and then goes to the movies for $50. Does he budget the most money for spending, saving, or donating?
Spending