Yr 9 Economics & Business

A social science focused on the production, distribution, and consumption of goods and services.

• Business

• Economics

• Citizenship

• Budgeting

process of growing interdependence between countries

• bitcoin

• share market

• economics

• globalisation

We satisfy our ​ (a)   by acquiring ​ (b)  

• needs and wants
• goods and services.

• The Australian ​ (a)   system cannot produce all the ​ (b)   we desire, so Australia is engaged in ​ (c)   relationships with countries all over the world. 

• economic
• trading
• goods and services

Printing more money actually devalues what a dollar is worth.

• Yes!

• Nah, it's fine

• Not sure what this means

Organise these options into the Needs and Wants

Groups:

(a) Wants

,

(b) Needs

• coca cola

• X-Box

• Heating

• multiple houses

• fruit & vegetables

• water

• Shelter

• air conditioning

relative scarcity

• Never satisfying our needs and wants

• Always satisfying our needs and wants

• Sometimes satisfying our needs and wants

When purchasing a house or land, most people take out a ​ (a)   loan.

• mortgage
• superannuation

Employees put money into a ​ (a)   fund

• superannuation
• mortgage

The choice you make ,ay gain you benefits OR lose you benefits.

• Loans

• opportunity cost

• Needs and wants

• Price factor