Assessment 6: Economics and Business - Topics to Revise

​ (a)   are dishonest ​ (b)   designed to ​ (c)   people out of ​ (d)   or personal ​ (e)  

• schemes
• cheat
• money
• information
• Scams

The changing ​ nature of work refers to how ​ (a)   and workplaces are ​ (b)   due to ​ (c)   like ​ (d)   , globalization, and working from ​ (e)   .

• jobs
• evolving
• technology
• AI
• home

Define 'Good debt and bad debt'.

• Good Debt

• credit card debt, pay later

• Bad debt

• student loan, home loan, business loan

• Bad debt example

• borrowing that is an investment in your future that are likely to gain value

• Good debt example

• borrowing for things that lose value

Banks provide ​ (a)   services like saving and ​ (b)   money, while the ​ (c)   bank of Australia ​ (d)   the country's money supply and interest rates.

• financial
• lending
• reserve
• manages

What are 'Investments'?

• Circular flow of income

• the economic, social, and political links between countries through trade, investment, and communication.

• Global connections

• an economic model showing how money moves between households and businesses in an economy.

• data interpretation

• assets or items acquired with the goal of generating income or appreciation over time.

• Investments

• 
  analyzing and drawing conclusions from economic data, such as graphs, tables, and statistics.

To ​ (a)   means to ​ (b)   in value over time, often used in reference to currency or ​ (c)   .

• appreciate
• increase
• assets

To ​ (a)   means to ​ (b)   in value over ​ (c)   , often used in reference to currency or ​ (d)   .

• depreciate
• decrease
• time
• assets

An ​ (a)   is a resource with economic ​ (b)   that an individual, ​ (c)   , or country owns or controls with the ​ (d)   that it will provide future ​ (e)   .

• asset
• value
• corporation
• benefit
• expectation

Find the definition for the following term (make sure the definition you find is connected to economics): Liability.

• investment

• Debt that is used to finance something that will increase in value or generate long-term income

• Bad debt

• 
  The act of allocating resources, usually money, in order to generate income or profit.

• liability

• Debt incurred to purchase items that do not increase in value or generate income, often leading to financial strain.

• phishing scam

• 
  

  A fraudulent attempt to obtain sensitive information by pretending to be a trustworthy entity in electronic communications.

• Good debt

• A financial obligation or amount owed by a person or business to another party.

match the term to the definitions

• Career

• A long-term professional journey based on a person’s occupation, training, and progress in a chosen field.

• diverse portfolio

• A collection of different investments held by an individual or institution to reduce risk.

• Employee

• 
  A person who is employed to perform a specific task or job.

• Job

• 
  A person or organization that hires people to work for wages or salary.

• Employer

• 
  A specific position of employment in which a person works for an employer and receives payment.