Global Economics
What is the difference between "import" and "export"?
Import is what countries BUY from other countries.
Export is what countries SELL to other countries.
Who is the richest person on earth
What is an example of a "competitor" for Nike
Adidas, Puma, New Balance, Asics, Lacoste
True of False: Australia's economy is market based?
True
Name a way money can be invested
Buying shares, investing more in a super account, buying property, buying or trading cryptocurrencies, investing in businesses.
True or False: An economy exists within a geographical area?
True
What is one of the Future Anything exemplars you have seen this term?
Eco Bed
Safe Surf
Cocacola
Supply is how much of something you have to sell and demand is how much or how many people want to buy it.
demand (what people want to buy) and supply (how much businesses can provide) in the market
You can save up for the things you want
You can protect yourself from financial risks.
What is Australia's largest export?
Iron Ore
What is the name of the unit you have just finished?
Future Anything
What is the business term for when prices of goods and services go up?
Inflation
Who is Australia's richest person?
Gina Rinehart
Creating a weekly plan with your expenses and income can also be known as a?
Why does countries have to trade with other countries?
Countries only have limited resources, so they specialise in producing certain goods and buy everything else they need from other countries
What business start up is the movie, The Social Network, about?
What are the 4Ps of marketing?
Product, price, place, and promotion
How does Australia make money as a nation?
By selling goods to overseas buyers.
What is an example of a financial risk?
Scam, debt, identity theft, gambling, stocks, bad investments, ect.
What does "globalisation" mean?
the process that involves all the countries of the world being linked together, resulting in an exchange of views, ideas, products, and culture
ByteDance is a Chinese internet technology company headquartered in Beijing that is most famously the owner of what mega-popular social media platform?
TikTok
What is the business term for the genre of speech you have just completed?
Pitch or business pitch
Give an example of one of the three "sectors" from the circular flow of income model. (Hint: think back to your exam last term)
Government, Finance, or Foreign
What is a strength of having a budget?
It helps you to control your spending, track your expenses, and save more money
It helps you make better financial decisions, prepare for emergencies, get out of debt, and stay focused on your long-term financial goals