Sources of Consumer Income (HSC SSCE Economics): Flashcards
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% of household income from labour in Australia
% of household income from labour in Australia
Approx. 56%
Four returns to factors of production
Four returns to factors of production
Wages, rent, interest, profit
% of household income from rent from land
% of household income from rent from land
Approx. 9%
Definition of dividends
Definition of dividends
Company profit payments distributed to shareholders
% of household income from transfer payments
% of household income from transfer payments
Approx. 9%
Govt welfare spending 2019-20 Budget (AUD)
Govt welfare spending 2019-20 Budget (AUD)
Approx. 180 billion
Largest welfare spending category
Largest welfare spending category
Assistance to aged (39%)
Second-largest welfare spending category
Second-largest welfare spending category
Assistance to disabled (26%)
% of welfare spending on unemployment benefits
% of welfare spending on unemployment benefits
6%
Means tested (welfare context)
Means tested (welfare context)
Payments based on family income levels