Natural resources Ore, petroleum, rare earth minerals. Budget surplus The government receipts exceed the spendings. Recession A period of two or more quarters of negative economic growth. Depression A period of two or more years of negative economic growth. Labour quality input Skilled workers participating in education and training. Living Standards It is the level of material comfort that people are able to buy and non-material such as water quality, health. Progressive tax system Individuals pay income tax by the amount of money they earn. Unemployment Individual who doesn't have work but is actively looking for a job. RBA Reserve Bank of Australia Budget deficit The government spending exceeds the receipts. Social Security and welfare It is an example of government spending. Taxation The most common form of government receipt. Inflation The increase in prices of goods and services. Imports Government leakage How inflation is measured By using the consumer price index (CPI) Benefits of Economic growth Higher government revenue, reduced poverty, better living standards. Exports It is an example of government injection. Disease of affluence Diabetes and heart disease It measures the economic growth of a country. GDP COVID- 19 It was responsible for two large falls in GDP. CPI Consumer Price Index GST Goods and Services Tax Capital resources input Machines, equipment, vehicles Energy rebates Ease cost of living pressures. GDP Gross Domestic Product Inflation Rise of prices of goods and services HDI Human Development Index Costs of Economic growth Inflation Environmental costs Long working hours Savings Households save money in the bank. Natural resources Ore, petroleum, rare earth minerals. Budget surplus The government receipts exceed the spendings. Recession A period of two or more quarters of negative economic growth. Depression A period of two or more years of negative economic growth. Labour quality input Skilled workers participating in education and training. Living Standards It is the level of material comfort that people are able to buy and non-material such as water quality, health. Progressive tax system Individuals pay income tax by the amount of money they earn. Unemployment Individual who doesn't have work but is actively looking for a job. RBA Reserve Bank of Australia Budget deficit The government spending exceeds the receipts. Social Security and welfare It is an example of government spending. Taxation The most common form of government receipt. Inflation The increase in prices of goods and services. Imports Government leakage How inflation is measured By using the consumer price index (CPI) Benefits of Economic growth Higher government revenue, reduced poverty, better living standards. Exports It is an example of government injection. Disease of affluence Diabetes and heart disease It measures the economic growth of a country. GDP COVID- 19 It was responsible for two large falls in GDP. CPI Consumer Price Index GST Goods and Services Tax Capital resources input Machines, equipment, vehicles Energy rebates Ease cost of living pressures. GDP Gross Domestic Product Inflation Rise of prices of goods and services HDI Human Development Index Costs of Economic growth Inflation Environmental costs Long working hours Savings Households save money in the bank.
(Print)
Ore, petroleum, rare earth minerals.
The government receipts exceed the spendings.
A period of two or more quarters of negative economic growth.
A period of two or more years of negative economic growth.
Skilled workers participating in education and training.
It is the level of material comfort that people are able to buy and non-material such as water quality, health.
Individuals pay income tax by the amount of money they earn.
Individual who doesn't have work but is actively looking for a job.
Reserve Bank of Australia
The government spending exceeds the receipts.
It is an example of government spending.
The most common form of government receipt.
The increase in prices of goods and services.
Government leakage
By using the consumer price index (CPI)
Higher government revenue, reduced poverty, better living standards.
It is an example of government injection.
Diabetes and heart disease
GDP
It was responsible for two large falls in GDP.
Consumer Price Index
Goods and Services Tax
Machines, equipment, vehicles
Ease cost of living pressures.
Gross Domestic Product
Rise of prices of goods and services
Human Development Index
Inflation
Environmental costs
Long working hours
Households save money in the bank.
