Economics, Business & Productivity
What does GDP stand for?
Gross Domestic Product.
What is the standard GST rate in Australia?
10%
Which singer released the album 1989 in 2014?
Taylor Swift.
What is the name of the document that sets out the basic rules of Australia's system of government?
The Australian Constitution.
Which country won the 2022 FIFA Men's World Cup?
Argentina.
Give two ways a business can improve productivity.
Better technology and staff training.
Name three types of taxes collected in Australia.
Income tax, GST and company tax.
Which actor played Captain Jack Sparrow in the Pirates of the Caribbean films?
Johnny Depp.
In which year did the six Australian colonies federate to form the Commonwealth of Australia?
1901.
Which country won the 2014 FIFA Men's World Cup?
Germany.
A factory produces 540 products in 18 labour hours. Calculate its labour productivity.
30 products per labour hour.
A taxable laptop costs $1,250 before GST. Calculate the GST amount and final price.
GST = $125. Final price = $1,375.AC/DC.
Name two members of the South Korean group BLACKPINK.
Any two: Jisoo, Jennie, Rosé, Lisa.Hugh Jackman.
Name the three levels of government in Australia and give one responsibility of each.
Federal — defence; State/Territory — public schools; Local — rubbish collection.
Name two clubs Cristiano Ronaldo played for before joining Al Nassr.
Any two: Sporting CP, Manchester United, Real Madrid, Juventus.Uruguay.
A shop sells 80 products for $15 each. Each product costs $6 to make, and fixed expenses are $250. Calculate the total profit and explain the difference between revenue and profit.
$470 profit. Revenue = $1,200; total costs = $730. Profit is revenue minus costs.
A government collects $2.5 billion in revenue and spends $2.85 billion. Calculate the budget balance and explain whether it is a surplus or deficit.
$350 million deficit. Spending is greater than revenue.
Name three films released by Pixar before 2010
Examples: Toy Story, Monsters, Inc., Finding Nemo, The Incredibles, Cars, WALL-E, Up.
Explain the difference between a criminal case and a civil case. Give one example of each
Criminal: an alleged offence against the law, e.g. theft. Civil: a legal dispute, e.g. a contract dispute.
Name three clubs that have won the UEFA Champions League since 2015, up to and including 2025.
Any three: Real Madrid, Barcelona, Bayern Munich, Liverpool, Chelsea, Manchester City, Paris Saint-Germain.
A business currently sells 100 products for $20 each. Each costs $8 to make, and fixed expenses are $500. The business considers reducing the price to $18 and expects to sell 140 products. Assuming costs per product and fixed expenses remain unchanged, which option gives more profit? Calculate and justify.
The $18 option. Original profit = $700; new profit = $900. The new option makes $200 more because increased sales outweigh the lower selling price.
Name four Australian musicians or bands who have had international success, excluding AC/DC and Kylie Minogue.
Any four: Sia, INXS, Tame Impala, 5 Seconds of Summer, Keith Urban, Men at Work, The Kid LAROI.
Name four different actors who have played James Bond in official Eon-produced films released between 1962 and 2021.
Any four: Sean Connery, George Lazenby, Roger Moore, Timothy Dalton, Pierce Brosnan, Daniel Craig.
A proposed law passes the House of Representatives but is rejected by the Senate. Has it become a law? Explain the role of both houses.
No. Generally, both houses must pass the bill in the same form before it can receive Royal Assent and become law.
Name four different countries that have reached the men's FIFA World Cup final since 2000, and give one year each country reached the final.
Examples: Brazil (2002), Germany (2014), France (2018), Argentina (2022). Other correct combinations accepted.