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?
You pay this every time you purchase something.
What is sales tax?
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?
This causes the prices of goods and services to increase as time passes.
What is inflation?
We want to say goodnight to Harry Styles in his 2022 song in this world, where its just us.
What is As It Was?
Goods that Australia is selling to other countries.
What are exports?
Goods which will last for years are this.
You pay this as a percentage of the salary or wage you make.
What is income tax?
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?
This tax is something paid by every driver in Australia
What is the fuel excise tax?
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?
The main way the government receives money from businesses.
What is company tax?
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?