Worksheets7 BST - Recap Term 3
Total questions: 20
Worksheet time: 12mins
What is INCOME?
Money that is being spent or the amount of money spent
A compulsory contribution to state funds
Money received on a regular basis, for work or through investments
When you borrow money from someone else with the intention of paying it back
What is EXPENDITURE?
The action of spending money or the amount spent
Money received on a regular basis, for work or through investments
A person's total income before tax
A person's total income after tax
What INDUSTRY would a MINER work in?
Retail
Mining
Health
Sports & Entertainment
What INDUSTRY would a DOCTOR work in?
Retail
IT
Professional Services
Health
What INDUSTRY would a LAWYER work in?
Public Services
Professional Services
Food & Production
Sports & Recreation
What is GROSS INCOME?
How much a person earns AFTER tax
How much a person earns per hour
How much a person earns BEFORE tax
Money put aside in a bank account
What is NET INCOME?
How much a person earns per hour
What a person earns AFTER tax
How much a person earns in a year
What a person earns BEFORE tax
What is a NATURAL resource?
A resource that is grown, mined or farmed
A resource that is used to make other resources
People who work at a business or organization
Money that is borrowed from a bank
What is a CAPITAL RESOURCE?
Assets that are used to make other goods and services
A resource that is grown, mined or farmed
People who work in a business or organisation
The amount of money you earn after tax
What is a HUMAN RESOURCE?
The amount of money you earn before tax
A resource that is grown, mined or farmed
The amount of money you earn after tax
People who work for a business or organisation
What is a BUDGET?
A type of business that sells food.
How much money you earn at work.
An estimate of income and expenditure for a set period of time.
A type of business that exports internationally.
What is a FRANCHISE?
A chain of stores that can be owned by different people.
A business that is only based in Australia.
A business that only sells goods online.
A business that sells overseas.
What is E-COMMERCE?
A business that only operates in Australia.
A business that buys or sells goods or services online.
A business that is based in Australia and overseas.
A business that only operates in a small community.
Click on the example of a LOCAL business.
Click on the example of a NATIONAL business.
Click on the example of a INTERNATIONAL business.
What is TAX?
The amount of money you earn a year.
A percentage of money taken from your income by the government.
An estimate of income and expenditure for a set period of time.
A business that buys and sells goods and services overseas.
Kai threw his brand new iPhone at the wall and smashed the screen. What can he do?
Pay for repairs himself. It was not accidentally damaged so it isn't covered by insurance.
It is still under warranty so he can take it back to the store & get his money back as long as he has the receipt.
He can take it back to the store and exchange it for a new phone.
Glue it back together and hope for the best.
Isabella bought a brand new laptop. Whilst writing an email, the keyboard popped off. What can she do?
Nothing. She will need to pay for the repairs herself.
She can sell the item online.
It is faulty and covered by a warranty. She can exchange the item, get it repaired for free or get a refund as long as she has her receipt.
It was accidentally damaged so she should be able to send the item away for repairs.
What is an ENTREPRENEUR?
A person who works for a huge company.
A person who sets up a business or businesses, taking on financial risks in the hope of profit.
A business that only buys and sells goods & services online.
A business that operates locally.
