There are many factors affecting the distribution of income (Y) and wealth which can be grouped into either variation in socioeconomic characteristics, the developments in the economy and changes in the labor market. Socioeconomic characteristics 1. Gender (Despite Equal Pay for Equal Work 1969, in...

Section 3: How are wages determined in Australia. Describe the roles of employer associations, trade unions and industrial tribunals in Australia's labour market. Wage determination in the labour market, has been partly based on the standard of what constitutes a fair or living wage, and th...