Economics unit 11

1.1 understanding the personal life cycle

There are five stages in the personal life cycle:

1 Childhood (0-12)

during this stage of the personal lifecycle you dont really have an income apart from pocket money, so you are dependent on your parents.  

2 Adolescence (teenagers)

here you may have a part time job so you aren't totally dependent on your parents and you are at secondary school where you build up your skills to gain qualifications in university.

3 Young adult

you are independent now and arent living with your parents, you have a bit more income and are in the process of gaining qualification…