Unemployment
Define the term unemployment.
People above the age of 15 who are without a job, actively looking for work, and available to start.
Define inflation.
Answer: A general increase in prices over time, meaning money buys less.
Define GDP in one sentence.
The total value of goods and services produced in an economy over a period (usually quarterly/yearly).
Identify the 8-point compass directions
Answer: N, NE, E, SE, S, SW, W, NW.
Define map scale.
Answer: The relationship between distance on a map and real-world distance.
Identify the labour force in one sentence.
The labour force is employed people + unemployed people actively looking for work (usually working-age population).
Identify the main measure used for inflation in Australia.
Answer: The Consumer Price Index (CPI).
Describe the difference between nominal GDP and real GDP.
Nominal GDP includes price changes; real GDP is adjusted for inflation (shows true output change).
Define a bearing.
Answer: A direction measured in degrees clockwise from North (000°–360°).
Identify what a scale of 1:50,000 means.
1 unit on the map = 50,000 units in real life (e.g., 1 cm = 50,000 cm).
What is formluae for figuring out the unemployment rate?
Unemployed divided by Labour Force
X100
What is the formulae for calculating the inflation rate?
Year 2 - Year 1 / Year 1 X 100
What is the formulae for calculating economic growth (GDP Growth)?
Year 2 - Year 1 / Year 1 X 100
State the bearing for East and South-West.
Answer: East = 090°; South-West = 225°.
On a 1:50,000 map, two points are 4 cm apart. Calculate the real distance in km.
Answer: 4 cm × 50,000 = 200,000 cm = 2,000 m = 2 km.
Explain one way cyclical unemployment can increase during an economic downturn.
When spending falls, businesses sell less, so they reduce output and lay off workers, increasing cyclical unemployment.
Interpret what “inflation is 6%” means for a typical household.
On average, the cost of a typical basket of goods/services is about 6% higher than a year ago (purchasing power falls).
Explain one reason why GDP growth might increase but living standards might not improve for everyone.
Population growth can dilute per-person gains (GDP per capita), or benefits may be uneven (income inequality/underemployment).
If you travel on a bearing of 135°, describe the direction using compass words.
Answer: South-East (SE).
Apply a scale bar: if 5 cm on the map represents 10 km, how far is 8 cm?
8÷5×10=16 km
Analyse whether a fall in the unemployment rate always means the economy is healthier. Give one reason for caution.
Not always—unemployment can fall if people stop looking for work (leave the labour force), or if more jobs are part-time/underemployed.
Evaluate one likely impact of high inflation on savers or borrowers.
Answer (either):
Savers: savings lose real value if interest < inflation.
Borrowers: debt can feel “smaller” in real terms, but interest rates may rise, increasing repayments.
Analyse the “healthy economy” claim: GDP growth is strong, but inflation is rising and unemployment is falling. What is one risk policymakers watch for?
The economy may be overheating, causing demand-pull inflation; interest rates may need to rise to slow spending.
You walk from A to B on a bearing of 060°. What is the back bearing from B to A?
Answer: Add 180°:
060°+180°=240°
Analyse which map is better for navigating a suburb: 1:10,000 or 1:250,000. Justify your choice.
1:10,000 (larger scale) shows more detail (streets/parks) and is better for local navigation.