Human wellbeing in Australia part 1 Flashcards
how many people are living in poverty
730 000
who are the most likely people to apply for the lowest 20% income group
elderly,single parents and people with linguistically diverse backgrounds
how much more wealth does someone in the top 20 percent have compared to the bottom
70 times more
which generation is the most likely to be unemployed
15-24
what is income inequality
how much income is received by a person or household
what is wealth inequality
how much wealth held by a person or household
how much more income those the highest income group have compared to the bottom
5 times as much income
what assets do wealthy people invest in (3)
property
shares
superannuation
what assets does the lowest wealth group invest in(2)
cars
home contents
what has happened over the last 20 years
income and wealth for the highest group has risen, and the lowest group decreased
what does inequality lead to
division within society
what happens to a country with lower levels of inequality
they have faster and more lasting economic growth
what happens in countries with low equality(6)
high levels of violence suicide obesity mental illness imprisonment shorter life expectancy
what does inequality mean for the lower group
they don’t have access to the same opportunities as the higher groups
why don’t wealthier people support shared services
as they don’t rely on them as they have access to better services
