Wage

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/wage

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the compensation models?Includes hourly wages, salaries, commissions, bonuses, and profit-sharing
2. What is the social significance?Related to concepts of living wage, equity, and social justice
3. How do wages help the economy?When people get wages, they spend money on things, which helps businesses grow and creates more jobs. This is called the multiplier effect.
4. Why do some jobs pay a salary instead of hourly wages?A salary gives a fixed amount of money each pay period, so the worker knows exactly how much they will earn even if they work different hours.

Living Wage: A wage high enough to maintain a basic but decent standard of living.
Gig Economy: A labor market characterized by short-term contracts or freelance work rather than permanent jobs.
Human Capital: The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.