Sources of Income

• Wages

  • The main source of income for consumers
  • Comes in forms of wage or salary payments for labour when consumers participate in the labour market
• Rent

  • Many consumers own land which becomes a source of income when rented
• Interest

  • Returns from the ownership of capital
  • Consumers with greater wealth enjoy higher income levels since wealth creates ongoing income through returns from owning capital
• Profits

  When businesses make profit, the income is considered a return for their use of entrepreneurial skill
• Social Welfare


  Income is collected through taxation and then transferred from governments to consumers. Social welfare aims to provide a minimum income net, allowing consumers to purchase necessities in life.
• Assistance to the aged

  For those over 65 and are not working
• Veteran Benefits

  For ex-military personnel
• Disability Support Payment


  For those unable to work due to physical factors