HASS Economics Year 8

People can buy shares in some companies, such as Telstra, or Fortescue Mining, on the stock market.

There are laws in place to protect consumers' rights.

The price at which both supply and demand is satisfied is called equilibrium.

Banks are considered the banking sector in an economy.

If a consumer wants to make a complaint about a faulty good or service they should

In economics, money earned is referred to as:

What is economics?

Companies cannot make misleading advertisements about products or services, by law.

Government provides financial and other support to the disadvantaged in the community. This is called

Households are considered an economic sector.

A person can be both a consumer and a producer.

Needs is the economic term for

The prices paid for goods and services can be influenced by both sellers and buyers.

Governments spend income on roads, transport systems, schools and hospitals.

Governments receive income in the form of taxes.

Stock markets are part of the financial sector of the economy.

Wants are defined in economics as

People earn income in the form of wages and salaries.

Businesses earn income.

Consumers should

Goods must be of acceptable quality; that is,