Income
What is income?
Money an individual receives.
What is wealth?
The value of all assets owned by an individual that have the ability to earn an income in the future.
What does it mean to analyse something?
To analyse something means to look at it carefully and break it down into smaller parts to understand it better.
Through tac returns, pentions, loans etc
What year did World War 1 start
1914
Why do people get income?
From working or making resources for productive purposes.
What are some types of wealth?
Savings
Property
Possessions which can be sold
Shares and other investors
What are the three steps for analysing graphs?
1)Annotate
2) Answer question
3) Refer to evidence from the source
How does the government collect income?
Through taxes, collecting fines, trade.
A rectangular pool has the long sides being 5 meters and the shorter sides being 3 meters. What is the area of the pool.
15 meters squared
What is the difference between a wage and a salary?
Wage (paid per hour worked)
Salary (paid yearly)
What is debt?
What kind of graph should be used to display how income has risen over time.
Line graph
True or false, the top 20% of households in Australia earn 49% of Australia's income.
True
The Tahj Mahal is located in which country?
What is a form of income that isn't a wage or a salary?
Pensions and allowances OR Business income
What is the best measure for how "well off" somone is?
Net-Wealth
What kind of graph can sghow us the distribution of government spending from the federal budget.
Pie Chart
What percentage of private wealth do the lowest 20% of households have.
0.9%
Who am I? I have become a major figure during the second world war but not as a leader. At the time I was just a young girl and didn't even fight in any major battles.
Anne Frank
Name one alternative form of income.
Renting out a property or asset.
Dividens from owning shares.
Intrest on money kept in a bank account.
Who is the wealthiest person in the world?
Elon Musk
Give an exapmle of some data you would display using a bar graph.
Any good enough example
South America have a higher percentage of the population above the poverty live than Asia. True or False.
True
Who won the 2000 AFL grand final
Essendon