Code: 1.2.1 · Children and youth
Knows that there are different sources and forms of income
Understands that income differences exist between people
Understands the characteristics and expected income levels of different jobs and career paths, including self-employment/entrepreneurship, to make first career choice with confidence
Realises that in some countries people have the right to a minimum wage when working
Understands what income tax is and how it is applied to income (the difference between gross and net income)
Aware of the basic legislation concerning employment wages and other income and confident to seek legal assistance when treated unfairly.
Realises that the state intervenes in various ways on individual income (with taxes, subsidies and social benefits)
Identifies different sources of income (e.g. income from work, financial income, rent, social benefits, profits from business, etc.) and understands that some sources may not be legal
Considers the expected level of income when making a career choice or pursuing a business idea and is motivated to make choices/plans to achieve the income one expects to have in the future
Confident to discuss wage when applying for a job