← Back to Articles

Australian Market Economy

Jamie Z 2024-05-22

Learning Goal

  • Identify Australian economic objectives
  • Describe the two sector market economy model

Economic Objectives

💡

  1. Government aim is to improve living standards
  2. Achieved through higher economic growth
  3. By increasing the production of goods and services
  4. To satisfy unlimited needs and wants

How does the Government make money?

  • Income Tax
  • Land Tax
  • Goods and Services Tax (GST)