,
,
, How do households spend their money ? general trend :
over 10 % consumption on :
I taxes paid to gort ·
utilities
2 . Savings ·
transport
3. Disposable Income (money left over ·
food
after savings + taxes used on personal
·
non-alcoholic beverages
consumption expenditures]
the higher the household
Household spending catagories : income ,
the smaller the %
durable goods : goods with an of their income spent on
expected life of 3years or more methods of measuring st's inequality ·
food & non diconolic
.
eg automobiles furniture .
etc I . GINI Natio (CH15) beverages
,
2. Palma Ratio
·
clothing
semi-durable goods middle class families :
2 GNI ·
footwear
commodities have lives of less rest split betw .
richest 10 % &
than three years poorest 40 %
eg
. clothing
& footwear
non-durable goods
a consumer good with an Foreign sector
expected life of less than 3 years ·
consists of a large no .
Of indu . States , each with its own dort , consumers
eg . food
a fuel and business enterprises
·
evern national gort=sovereign also in respect of its econ policy
services
an (intangible) act or use RSA= open economy
for which a consumer ,
·:
country extensively involved ininternational trade
firm or government is enious welfare gains offered by active participation in international
willing to pay
. Trade
sensitive to changing world events
South Africa-service-orientated
economy : spends highest
of GNI on services