10 commerce exam revision

A depression is an expansion in the general level of economic activity

The supreme court deals with constitutional matters

Casual employees are employed on an hourly basis

An Entitlement is an organisation which hires people to work for them

Voluntary service can sometimes include paid work. E.g working as an ambulance officer.

Equal pay for women was introduced in 1983

The Coat of Arms sets out how a country is to be governed

The standard of proof required in a criminal trial is "on the balance of probabilities"

The Australian government is responsible for the education of Australian residents

The Speaker is the presiding officer of House of Representatives debates, determining which members may speak.

A legally binding formal agreement between the employer and employee is known as an employment contract

A referendum is used to introduce new laws into the house of representatives

The Greens political party represents farm/rural interests

A minister of parliament must record everything that is said in parliament

The foreign exchange rate is the ratio of one currency to another

Superannuation is the payment made from employers towards an employees retirement

An award sets out the minimum wages and conditions for a particular job/industry

The family court deals with disputes over guardianship of children during a divorce

NSW state treasury is responsible for collecting income tax for the government

Local Governments get most of its revenue from Income tax

Workcover is responsible for enforcing safety laws in the workplace

A magistrate hears evidence in a local court and decides whether a person is guilty or not guilty.

Income tax is collected by the Commonwealth Government of Australia

A recession means there have been consecutive periods of economic decline

Permanent employees usually work 35 hours a week

Consumption, investment and Government spending all contribute to the general level of economic activity in an economy

The Treasurer is responsible for preparing the budget

The unemployment rate is the ratio of people not employed compared to the total number of people available for employmen

Unemployment usually decreases during an economic boom (growth) period

Fascism is a system of government in which there is no law enforcement