Economic Vocab
Things that people have to have in order to live.
What are needs?
Human resources such as time, energy, skill, or creativity
What is labour?
Money paid on a loan, above the initial amount.
What is Interest?
The type of economy the island initially was.
What is subsistence economy?
Butter, Dynamite, and Boy with Luv are all megahits from this music group.
Who are BTS?
The extra money you have made compared to the costs of doing something.
What is profit?
Activities which other people perform for us
What are services?
Spending money in this area will lead to people being able to better manage money and do more complex jobs and tasks
What is education?
One consequence of market capitalism
What is Climate change, inequality, homelessness, unemployment, poverty, overwork, stress, declining birth rates, housing crisis
A famous dancing caffeinated beverage
What is ballerina cappucina?
Goods that Australia is selling to other countries.
What are exports?
The measure of a country's total economic output in a year
What is GDP (Gross Domestic Product)?
This causes the prices of goods and services to increase as time passes.
What is inflation?
Wind, Water, the sun are all this type of resource.
What is renewable?
The highest grossing media franchise has a total revenue of over $88 billion
What is pokemon?
The act of using a good or service.
What is consumption?
Australia's biggest trading partner.
Who is China?
Spending money in this area tries to ensure that citizens of the country will remain safe.
What is defence?
The type of economy Australia has.
What is Market Capitalism?
This Youtube video has the most views by bringing a kid friendly approach to a sharp-toothed subject matter.
What is baby shark?
When people in a country are unable to find work, despite wanting to.
What is unemployment?
Their aim is to maximize profits whilst keeping costs down.
Who are producers?
Controls Australia's monetary policy
What is the Reserve Bank of Australia (RBA)
To get the unemployment rate you have to divide the number of unemployed people by this.
What is the labour force?
The Italian plumber just got his own movie last year but this game was where he got his humble beginnings.
What is Donkey Kong?