inheritance models and data model


What is the better way to organize database in case of inheritance
models ?

If I have 2 classes :

class Person < ActiveRecord::Base
     attr :name, :adress

class Teacher < Person
     attr :school

I'll have à table people with fields name, adress and school.

Is there the better way ?

A person could have thousands of inherited models, do all their
attributes have to be in the table 'people' ?

ps : sorry for my bad english. I hope I have a good usage of the word
inheritance... :-p