9 REVISION QUIZ

The term ‘globalisation’, generally refers to the opening of international borders to increase the flows of? (Select all that apply)

• Trade

• Technology

• Culture

• Finances

What has led to increased globalisation? (select all that apply)

• Reduced trade barriers

• Reduced transportation

• Growth of technology

• Methods of communication have improved

__________________ is beneficial as it provides consumers with a wider variety of goods and services, it increases competition which results in higher quality goods, and countries are given better access to medicine, information, education and technology.

• Economic interdependence

• Economics

• Globalisation

• CSR

Which of the following is not a sector of the Australian Economy?

• Business

• Household

• Overseas

• Employees

Which sector is being described below?

This sector includes federal, state and local levels, where they collect taxes and use them to pay for public services like health, education etc

• Business

• Household

• Overseas

• Government

Which sector is being described below??

This sector provides economic resources (land, labour etc.) to the business sector. Further, this sector pays for goods and services provided by the business sector.

• Household

• Business

• Government

• Finance

____________ refers to the reliance that exists between participants in the economy on each other to use limited resources to produce goods and services that satisfy unlimited needs and wants.

• Globalisation

• CSR

• Transnational corporations

• Economic interdependence

Which of the following is not a participant in the global economy?

• Finances

• Consumers

• Employees

• Producers

Which of the following is an example of a producer?

• charge taxes to workers and producers

• create good and services for consumers to use

• use the goods and services created by producers

• provide their time and labour to producers to make goods and services

________________ use the good and services created by producers

• Producer

• Government

• Employees

• Consumers