5 Sector Circular Flow Model
Business Cycle
Wild Cards
Businesses
Government Agencies and Interventions
100
Which sector is responsible for managing household savings and investment?
Financial sector
100
GDP stands for...
Gross Domestic Product
100
Uber Eats is a type of _________ business
a) Online
b) Hospitality
c) On-Demand
d) Large
c) On-demand
100
Identify TWO examples of government intervention in the businesses and the economy.
Answers may include:
- minimum wage
- work health safety regulations
- preventing a monopoly
- stopping price gouging
- consumer rights (e.g. refunds and quality assurance)
150
Identify all three leakages out of the economy in the 5 sector circular flow model.
50 points per correct answer
- savings
- Taxation
- Imports
150
What is term used to describe the area circled in red within the business cycle?
Contraction in the economy
150
What's me favourite colour?
green
150
Inde Navarrette reached stardom because of the new movie 'Obsession'. Inde mentioned in an interview that she wished Pepsi sold a raspberry flavored coke. In response to this, Pepsi launches the new flavour ans sponsors Inde to promote it.
What factor informed Pepsi's business decision?
a) leveraging celebrity power
b) social
c) economic
d) technological
Social - changes in trends and demand for product from celebrity influences.
For the complainers - 'Social' is the technical term you learnt in class.
200
Explain why are exports an injection into the Australian economy?
Australia trades resources (e.g. iron) to another country in exchange for money.
The money comes INTO the Australian economy - therefore it is an injection
200
"Businesses should NOT be regulated by the government"
Identify ONE reason for and ONE reason against the statement above.
Answers may include....
For:
- Business would be able to make more money without rules from the government
Against:
- Businesses will exploit workers if rules are not put in place against it
250
You will watch trailers for my 3 favourite movies:
- Bladerunner 2049
- Twelve Angry men
- Paddington 2
Order the 3 movies from 1-3 according to how much I like them
1. Twleve angry men
2. Paddington 2
3. Bladerunner
300
You will listen to one second of a song.
150 points for name of song
150 for artist name
Last Christmas by Wham!