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17.1 The Australian economy- an introduction

Total questions: 12

Worksheet time: 4mins

Name
Class
Date
1.

Resources can be considered limited but our ______ and ______ are virtually unlimited.

(a)  

2.

A recent study showed that Apple, Coca- Cola, Nike, McDonalds and Adidas were all...

a)

Australia's most successful businesses

b)

Favourite brands among teenagers

c)

Facilitating sweatshops

d)

All owned by the same company

3.

What portion of secondary students have a part-time job?

a)

1/4

b)

1/2

c)

1/3

d)

1/5

4.

Vidoe games have become a popular (a)   tool to reach teenagers

5.

Resources can be placed into three main categories

a)

Natural, labour and capital

b)

Large, small and natural

c)

Free, cost and labour

d)

Capital, labour and unatural

6.

Milk is an example of a __________ resource.

a)

Capital

b)

Natural

c)

Labour

d)

Goods

7.

Factories and buildings are examples of a ___________ resource.

a)

Labout

b)

Capital

c)

Natural

d)

Wants

8.

Bakers are and example of a ____________ resource.

a)

Labour

b)

Capital

c)

Required

d)

Natural

9.

_______ resources are resources that come from nature, from above or below the ground.

a)

Capital

b)

Natural

c)

Labour

10.

______ resources are resources that ar the intellectual or physical skills of a worker that are needed to make a goods or service.

a)

Capital

b)

Natural

c)

Labour

11.

________ resources are man-made resources such as machinery, roads and bridges that are used to produce and transport goods and services we purchase.

a)

Labour

b)

Capital

c)

Natural

12.

A woman books a family holiday to New Zealand over the summer. As a result her husband is upset that he cannot purchase a new dirt bike. Forgoing the motorcycle is the real cost of going on the trip:( Economists refer to this as ______

a)

Financial sacrifice

b)

Financial balancing

c)

Opportunity cost

d)

Going without