AUSTRALIA: DISTRIBUTION OF INCOME & WEALTH

?Income is the amount of funds or other benefits, flowing to individuals or households from the sale of factors oer time. ? wealthiness is the value of accumulated assets all over time. ?Income inequality refers to the spirit level which income is jaggedly distributed among people. ?Income distribution is measured by dint of:* The Lorenz Curve ? a federal agency of the degree of income inequality make a level of conflict of the distribution of income from a downfall of absolute equality amongst income earners. * The Gini Co-efficient ? a mathematical indicator if the degree of income in equality, represented by a number amid 0 and 1, where the closer to 1 the great the inequality. TRENDS IN INCOME & adenosine monophosphate; WEALTH:?Varies consort to age, gender, occupation, ethnic background, family structure & type A; geographics* Age: incomes acquire until retire handst ? 45-55 yrs collar approx. 2.5x the income of 15-24 yrs* gender: women receive 80% of men?s? ? P/T occupations* stemma: Labourers (mean income $412) and managers &type A; administrators ($1187) (2000). * Ethnic Background: competency to speak English, skills & adenylic acid; educational activity. * Family Structure: single p atomic number 18nt familles vs. married coupled families* geographics: on average NSW ($482 p/w) and TAS ($391) (2000).

COSTS & BENEFITS OF INCOME dissimilitude? economical Benefits:* Encourage toil force to improve their education & skills ? better rewards as incentive* Encourage processers to deed longer hours ? higher incomes and so higher EG* Encourage entrepreneurs to bear down more risks ? vital to emergence productive capacity? economical Costs:* Inequality potty reduce EG* Reduces consumption & investment* Increased need & social problems are expensive to solve? good-time Benefits* Very Limited? tender Costs* Social anatomy divisions ? rich doesn?t expletive with poor* PovertyGOVERNMENT POLICIES TOWARDS INCOME INEQUALITY? at one time:* Fiscal Policy ? by dint of govt. taxation and spending, redistributes income amongst poor. Recent concern in fiscal symmetricalness has led to a lessening of this* Changes To... If you want to get a full essay, order it on our website: Ordercustompaper.com

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