Topic 1 Economics y8

Which of the following refers to individuals and businesses involved in the production of goods and services?

• Consumers

• Markets

• Producers

• Retailers

What do we call the relationship between consumers and producers?

• A market

• Supply and offer

• Supply and demand

• A consumer society

The total of all producers in an economy is known as the ____________ sector.

• business

• government

• financial

• economic

Which of the following is an example of a financial intermediary?

• A producer

• A bank

• An accountant

• A government organisation

What do financial intermediaries usually do with the money that individuals deposit?

• The money is left alone

• The money is lent to other individuals or businesses.

• The money is sold to overseas buyers.

• The money is invested in the stock exchange.

Which of the following best defines exports?

• Goods and services sold by local businesses to local consumers.

• Goods and services sold by overseas companies to local consumers.

• Goods and services sold by overseas companies to overseas consumers.

• Goods and services sold by local businesses to overseas consumers.

What market has seen significant growth, and is likely to continue to grow?

• Buying shares

• Online shopping

• Main streets in country towns

• Computers

• AI (artificial intelligence)

The minimum wage applies to _________________________.

• full-time employees over the age of 15

• all employees over the age of 15

• full-time employees over the age of 21

• all employees over the age of 21

Which of the following is NOT one of the four functions of money?

• Medium of exchange

• Measure of value

• Capital growth

• Store of value

Which legislation helps to protect the rights of workers?

• The Anti-Discrimination Act

• The Workplace Safety Act

• The Fair Work Australia Act

• The Worker's Rights Act