Earning and Managing Money (HSC SSCE Mathematics Standard): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
ShowHide
Practise the cards
10 cards from this deck
Definition of piecework
Definition of piecework
Payment system: set amount per task/unit completed
Formula for piecework earnings
Formula for piecework earnings
Definition of royalties
Definition of royalties
Payments from creative work use/sales, % of revenue/profit
Formula for royalty payment
Formula for royalty payment
What age pension supports
What age pension supports
People who have reached retirement age
What Youth Allowance supports
What Youth Allowance supports
Young people studying, training, or doing apprenticeship
Number of fortnights in a year
Number of fortnights in a year
26 fortnights
Definition of intellectual property
Definition of intellectual property
Creative works owned by creator, protected by law
Advantage of piecework payment system
Advantage of piecework payment system
Motivation to work productively; more tasks = more earnings
Common disadvantage of all three income types
Common disadvantage of all three income types
No superannuation, sick leave, or holiday pay