Types of Resources
What are the three main types of natural resources?
Renewable, non-renewable and continuous.
What is liveability?
People who buy goods and services are called ...
Consumers
What is scarcity?
Making choices because resources are limited.
What is the capital city of Australia?
Canberra
What are examples of renewable resources?
Climate, safety, access to services, education and infrastructure.
Producers are people who...
Make or sell goods and services
The process of deciding how to use limited resources is called what?
Resource allocation.
What is Western Australia's largest export?
Iron ore.
Coal, oil and natural gas.
What is liveability?
The presence of parks and green spaces improves this aspect of a suburb.
Name one factor that can influence a consumer’s choice.
Price, advertising, quality and brand.
Name one example of a scarce resource.
This natural wonder is found off the coast of Queensland and is visible from space.
The Great Barrier Reef.
What is the name of a resource that will never run out?
Continuous
This level of government is responsible for parks, libraries and rubbish collection.
Local government
A place where buyers and sellers exchange goods or services is called what?
A market.
What is opportunity cost?
This term means the next best alternative you give up when making a choice.
Name the major supermarket chains that dominate the Australian grocery market.
Coles and Woolwroths.
What is the difference between renewable and non-renewable resources?
Renewable resources can regenerate naturally over time, while non-renewable ones cannot be replaced once used.
Explain how transportation can affect the liveability of a place.
Better transport allows easier access to jobs and services, improving quality of life.
Explain why producers respond to what consumers want.
Explain why households must make economic choices.
Because they have limited resources and unlimited wants
What is Australia’s largest trading partner?
China