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WorksheetsYear 9 Economics Retrieval Practice
Total questions: 20
Worksheet time: 10mins
Globalisation
the way in which participants in the economy, such as producers and consumers, rely on each other to produce and
consume goods and services.
the process that involves all the countries of the world being linked together, resulting in an exchange of views, ideas, products and culture
an enterprise that is involved with the international production of goods or services, foreign investments, or income and asset management in more than one country.
refers to the many links or activities that are required to move a product or service from a supplier to a consumer.
Transnational Corporation
the way in which participants in the economy, such as producers and consumers, rely on each other to produce and
consume goods and services.
the process that involves all the countries of the world being linked together, resulting in an exchange of views, ideas, products and culture
an enterprise that is involved with the international production of goods or services, foreign investments, or income and asset management in more than one country.
refers to the many links or activities that are required to move a product or service from a supplier to a consumer.
McDonald's is a transnational corporation because it operates facilities and does business in many countries around the world. It does not consider one country its national home.
False
True
This is a diagram depicting a
circular flow model
global supply chain
opportunity cost
Why do transnational companies spread their business across the globe?
Keep profits high
React more quickly to customers' needs at a local level
Improved quality of product
Keep costs low
Natural disasters and political unrest can disrupt global supply chains.
True
False
Somewhat
The disruption in the supply of oil to Australia would greatly impact many other industries.
True
False
An ________ ________ is when a foreign company invests in a country by building a factory or shop.
investment
inward investment
outward investment
ancillary investment
Australia is linked to the global economy because
it trades with other nations
foreign companies invest here
migration
technology
an international labour market
Which of the following is not an advantage of globalisation?
Inward investment by TNCs helps countries by providing new jobs and skills for local people.
TNCs bring wealth and foreign currency to local economies when they buy local resources, products and services
The sharing of ideas, experiences and lifestyles of people and cultures
Globalisation operates mostly in the interests of the richest countries, which continue to dominate world trade at the expense of developing countries.
One of the problems with globalisation is that an absence of strictly enforced international laws means that TNCs may operate in Less Economically Developed Countries in a way that would not be allowed in an More Economically Developed Country.
False
True
Critics of globalisation include groups such as
environmentalists
trade unionists.
trade unionists.
the wealthy
All graphs need to have BALTSS. What does the A stand for?
Axis Labels
Artistic presentation
Accurate data
A set of data
All graphs need to have BALTSS. What do the S & S stand for?
source and scale
source and subject
scale and subject
shading and subject
How many key particpants are in the CFM?
2
5
4
6
Which statement about the graph is correct?
Employment in the service industry is declining steadily.
Employment in the manufacturing industry is increasing rapidly.
Employment in all industries except service are declining steadily.
There has been a sharp and rapid increase in employment in the mining sector.
What is the economic problem?
The needs and wants of consumers are finite, the resources available to satisfy needs and wants are infinite.
Producers can not produce enough to meet demand.
The needs and wants of consumers are infinite, the resources available to satisfy needs and wants are finite.
Supply will always outweigh demand.
Resources are classified as
land, labour, capital and enterprise
land, labour, money and enterprise
land, labour, capital and nature
primary, secondary, tertiary and quaternary
Interdependence
the way in which participants in the economy, such as producers and consumers, rely on each other to produce and
consume goods and services.
the process that involves all the countries of the world being linked together, resulting in an exchange of views, ideas, products and culture
an enterprise that is involved with the international production of goods or services, foreign investments, or income and asset management in more than one country.
refers to the many links or activities that are required to move a product or service from a supplier to a consumer.
Australia's global supply chain is currently disrupted by the global pandemic.
Yes, this can be seen in the shops beacuse there is a lack of goods.
Yes, because we rely on Asian countries to manufacture out goods.
Yes, and also by the deteriorating relationship with China.
No, because as a nation we are self-sufficient.
