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Related topic
Economics and Business 7-10 / Year 10 / Knowledge and understanding
Curriculum content descriptions
the ways that government intervenes in the economy to improve economic performance and living standards within Australian society (AC9HE10K02)
Elaborations
- explaining how the Australian Government uses fiscal policy to help improve the standard of living; for example, the federal Budget, taxation, expenditure on skills training and workforce development
- explaining the forces that shape and affect variations in living standards within Australian society, such as unemployment and poverty, and identifying why the government may redistribute income and wealth
- explaining how the government may redistribute income to achieve a more equal distribution of income and wealth; for example, income transfers such as pensions, youth allowance and job search, or the provision of services for all such as healthcare and education
General capabilities
ScOT terms
Uneven development, Business cycles, Living standards, Government policy