A criminal offence where one person tricks another to get $$

How can you legally make money at age 12-14?

Mowing lawns, washing cars, babysitting, a paper round, etc.

What are communication skills?

Write Effectively, Verbally explain ideas

What is a withdrawel?

An amount of money taken out of a bank account

What is an apprenticeship?

On the job training for practical jobs such as trades

Something you don't need to survive

Production, distribution &consumption of goods and services.

Something you cannot live without

What are 3 disadvantages to shopping online?

Security, too much choice, risk of not getting what you want

Payment made by the bank for using $ deposited in an account

Money received on a regular basis from working in a job

An example of Scarcity is..

Bananas after a cyclone, The World running out of oil

A qualification that develops skills for a particular job

A service provided to you by another person for money

Amount of goods or services that are available to consumers

What is a bachelor degree?

Generally a 3-4 year course you do at university

What is a good way to save money when grocery shopping?

Look for the price per 100g, Buy store brands eg. "you'll love coles"

An item you can physically hold/buy

studbud

Economics for Year 7/8 Australia

28 termsStudBud Administration16 plays

A pop quiz about basic economics including some fun questions you wouldn't find in a text book

Flashcards28 cardsFPractice quizPHost liveL

Questions 28

Answers

1
What is impulse buying?
Giving money to people quickly
Unplanned spontaneous buying
Only buying things on sale
Unplanned purchase of Impulse spray
2
What is fraud?
A legal way of taking money
An amount of money from a fraudster
Money if you find you can keep
A criminal offence where one person tricks another to get $$
3
How can you legally make money at age 12-14?
Mowing lawns, washing cars, babysitting, a paper round, etc.
Becoming a professional complainer
Stealing
Working at McDonalds
4
What is an ATM?
Auto Train Map
Automatic Teller Machine Machine
Automatic Talking Man
Automatic Teller Machine
5
What is the symbol for "Australian dollars"?
AUS
USD
AUSD
AUD
6
What term best describes 'A consumer's willingness to pay a price for a good or service'?
Market
Chocolate
Offer
Demand
7
What are communication skills?
Write Effectively
Verbally explain ideas
Being good at online chat
Not talking to anyone
8
What is a withdrawel?
Something you put in a drawer
A saving's account
Money that is put into an account
An amount of money taken out of a bank account
9
What is an apprenticeship?
On the job training for practical jobs such as trades
A tv show
A course you can take
A job where you make stuff
10
What is a want?
Something you don't need to survive
Something you have to have
Someone who wants things
Something you need to survive
11
Economics is?
Money
Production, distribution &consumption of goods and services.
The study of Econs
Study of places &relationships between people &environments.
12
Identity thieves can take what from you?
Your money
All of the above
Your personal details
Your identity
13
What is a need?
A penguin
Someone who is needy
Something you can live without
Something you cannot live without
14
True of False.Personal qualities like being patient, responsible are important to finding work?
False
True
15
What are 3 disadvantages to shopping online?
Too little choice, getting ripped off, too expensive
Security, too much choice, risk of not getting what you want
It's cold in my house, going outside, let's go ride bikes
Shopping online is dodgy as
16
What is an employer?
A person who works
A person who hires employees
A person who likes working
A person who hates working
17
What is interest?
Payment made by the bank for using $ deposited in an account
When something is interesting
18
What is income?
When you come to work
Money you get for winning competitions
Money received on a regular basis from working in a job
Money received from not working
19
True or False, shopping online, you have the same legal rights as shopping in a real shop?
False
True
20
An example of Scarcity is..
When you have a comfortable amount of money
Bananas after a cyclone
Woolworths being overstocked with Christmas puddings
The World running out of oil
21
What is a diploma?
A qualification that develops skills for a particular job
A qualification that helps you become a clown
A piece of cheese
A piece of paper
22
What is a service?
A service you get for free
Something you can hold
A service provided to you by another person for money
Something that you do yourself
23
What is Supply?
When you go into debt
When a business has too many employees
Amount of goods or services that are available to consumers
24
What is a deposit?
Money placed in a bank account
Money you take out of the bank
Money placed in a wallet
Money you can keep
25
What is a bachelor degree?
Something you do at TAFE
When you're really good at watching The Bachelor
Generally a 3-4 year course you do at university
A certificate of employment
26
What is a good way to save money when grocery shopping?
Looking for the most expensive products
Look for the price per 100g
Buy store brands eg. "you'll love coles"
Only buy known brands
27
What is an advantage to shopping online?
All of the above
Hard to find items
Delivery straight to your home or workplace
Convenience and price
28
What is a good?
Something that's good
An item you can physically hold/buy
A service provided to you by another person for money
Something you don't need

Economics for Year 7/8 Australia Flashcards | StudBud