Universal Basic Income and Consumer Culture

A series of flashcards covering key concepts related to Universal Basic Income, consumer behavior, and economic implications.

Universal Basic Income (UBI)

A system where every resident of a nation receives a certain amount of money from the government.

Consumer Culture

A culture that prioritizes impulse buying and wants over needs, as suggested by spending patterns.

Inflation

The rise in prices of goods and services, which reduces the purchasing power of money.

Impulse Buying

Making unplanned purchases typically driven by emotions rather than needs.

Fraudulent Activity

Illegal activities that can increase as more money circulates in an economy, leading to economic disruptions.

Budgeting

The process of planning how to allocate money for various needs and wants.

Economic Inequality

The unequal distribution of wealth and resources in a society.

Wastage of Money

The careless spending of money on non-essential items, reflecting poor financial management.

Gambling Spending

Significant amounts of money spent on gambling, which can account for a large percentage of consumer expenditure.

Currency Supply

The total amount of money available in the economy at a certain time.

Economic Collapse

A significant decline in economic activity leading to a breakdown of economic structures, which may be caused by poor monetary policies.

Jacaranda Finance

Source that reports on financial statistics, including gambling expenditures.

Australian Payment Fraud Report

A report detailing the increase in fraudulent card activities in Australia.

Financial Security

The condition of having stable income or other resources to support a standard of living.