Economic Y9

What is a want

• A desire or a wish to do something

• An equation or a number to do something

• A needy or a wish to do something

• A dislike or an allergy to do something

What is a need?

• These are things we need to discuss

• These are things we need to arrange a time to do something

• These are things we need to prepare for another time

• These are things we need to survive

What is simply an economic decision?

• We must be aware of the buyers out there

• •It is a decision that involves using your resources such as time and money.

• Decisions must be made at the end of the week

• •We have to take a chance on how we use our energy

What does scarcity mean in an economic sense?

• Scarcity is making smart choices

• Scarcity is having too much of a good thing

• Economics of scarcity is not important

• Sense is making something up

What does income and inequality mean in an economic sense in society?

• The unequal and uneven distribution in society

• When society makes decisions for some people

• When resources are a plenty for all to share

What is the correct definition for what is income

• Money received from doing work done regularly

• Money received from someone who owes a debt.

• Money that can made without doing work

What is GST?

• Goods and Services tax on all goods and services being provided

• Goods and Servants tax on all goods and services being delivered

• Government Services and Training providers

What is Income Tax?

• Government stealing all of your money

• Employer's making up porkies why they take money from you

• Government tax on income earned - unfair and compulsory!

What is tax used for?

• Help with your own debt problems

• University students taking advantage of tax free money

• Help with Public support services. Such as,

  Health, Education, Police and many other Government services

Choose the correct definition for the following Acronym. S.M.A.R.T

• Specific, Measurable, Achievable, Realistic and Meabning

• Specific, Mutual, Realistic and Measurable

• Specific, Measurable, Achievable, Realistic and Measurable