What are the Sources of Income Igor Roitburg
Sources of Income •
Wages, salaries, tips, and commissions
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Entrepreneurship, or business earnings
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Investment earnings
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Government payments
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Grants, royalties, and inheritances
Wages, Salaries, Tips, and Commissions Wages pay that is ďŹ gured at an hourly rate Salary pay that is a ďŹ xed amount, regardless of the hours worked Tip a voluntary payment that a customer makes to an employee Commission a percentage of the total sale, paid to an employee instead of, or in addi:on to salary or wages
Entrepreneurship, or Business Earnings •
Entrepreneur Someone who organizes, manages, and assumes the risks of owning a business
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Sole proprietorship a business owned by one person
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Partnership a business with co-owners, in which both par:es are legally joined together
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Corpora8on a business owned by a group of stockholders
Government Payments •
Financial aid for students
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Social Security
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Medicare
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Medicaid
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Unemployment Insurance
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Aid to dependent children
Grants, Royalties, and Inheritances •
Grants payments or property given to people or ins:tu:ons, which do not have to be paid back
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Royal8es a percentage of the sales in dollars paid to an author, songwriter, or inventor when copies of his her crea:on are sold
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Inheritance an amount of money, property, or an object of value, given by someone who has died
Choosing your career 1.
Daydream
2.
Make a thorough self assessment
3.
Gather career informa;on
4.
Set a realis;c career goal
5.
Make a decision
6.
Outline a plan of ac;on
Activity (optional) Discover your personality type and ideal career.
Click on Careertest.net to take a career aptitude test.
After you complete the test, answer the following:
1. Write down your type description
2. List three careers people of your type tend to enjoy doing
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Analyze the relationship between various careers and personal earning goals.
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Identify a career goal and develop a plan and timetable for achieving it, including educational / training requirements, cost and possible debts.
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Evaluate current advances in technology that apply to a selected occupational cluster.
Activity Go to Occupational Outlook Handbook
Explore different aspects of occupations by clicking on the following tabs:
• What workers do on the job
• Work environment
• Education, training, and other qualifications needed to enter the occupation
• Pay
• Projected employment change and job prospects from 2012 to 2022
• Similar occupations
• Contacts for more information
Occupational Group
• Architecture and Engineering
Name of Occupation
• Aerospace Engineer
Picture of Occupation
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What Aerospace Engineers do •
Aerospace engineers design aircraft, spacecraft, satellites, and missiles.
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In addition, they test prototypes to make sure that they function according to design.
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Duties Aerospace engineers typically do the following:
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Direct and coordinate the design, manufacture, and testing of aircraft and aerospace products
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Assess proposals for projects to determine if they are technically and financially feasible
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Determine if proposed projects will result in safe aircraft and parts
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Evaluate designs to see that the products meet engineering principles, customer requirements, and environmental challenges 13
Work Environment and Schedule •
They are employed in industries where workers design or build aircraft, missiles, systems for national defense, or spacecraft. Aerospace engineers work primarily for firms that engage in analysis and design, manufacturing, research and development, and for the federal government.
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Aerospace engineers typically work full time. Engineers who direct projects must often work extra hours to monitor progress, to ensure that the design meets requirements, to determine how to measure aircraft performance, to see that production meets design standards, and to ensure that deadlines are met. 14
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