stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Economic and Business Environment - Year 10 Commerce Flashcards | StudBud
Explore
/
Economic and Business Environment - Year 10 Commerce
Economic and Business Environment - Year 10 Commerce
15 terms
·
StudBud Administration
·
2,793 plays
Multiple Choice Questions from JacPlus
Flashcards
15 cards
F
Practice quiz
P
Host live
L
Questions
15
Answers
1
Which of the following is a characteristic of the boom stage in the business cycle?
Low levels of building approvals
Lack of consumer confidence
High levels of unemployment
Inflation pressures
2
What do financial intermediaries usually do with the money that individuals deposit
The money is lent to other individuals or businesses
The money is left alone
The money is sold to overseas buyers
The money is invested in the stock exchange
3
Which of the following is a role of the government sector in the circular flow of income
To export goods and services overseas
To loan money to individuals and businesses
To collect taxes from individuals and businesses
To produce goods and services for consumers
4
What are the five sectors that comprise the Australian economy?
consumer, business, government, financial and overseas sectors
retail, labour, financial, stock and overseas sectors
consumer, individual, government, household and overseas sectors
consumer, online, government, financial and trade sectors
5
Which of the following are examples of types of markets?
retail, labour, financial, stock markets
local, national, global markets
retail, business, financial, overseas markets
household, business, government, overseas markets
6
Which sector of the five-sector circular flow model of the economy involves imports and exports?
Consumers
The overseas sector
Business
Government
7
Which of the following factors would cause an increase in demand
If a substitute good becomes cheaper
A rise in consumer incomes
If prices for the product are expected to fall in the future
An increase in the cost of production
8
The labour market is:
where people are forced to work against their will
people who are looking for a job as well as businesses hiring
where people work very hard in tough conditions
all people who are currently employed in Australia
9
What does ASIC stand for?
Australian Securities and Consumer Commission
Australian Competition and Consumer Commission
Australian Stock Exchange
Australian Securities and Investments Commission
10
What is the point at which the demand and supply curve intersect called
Price mechanism
Market equilibrium
Supply
Demand
11
Which of the following is a key feature of a recession
Falling levels of production
Unemployment rises
Falling rate of inflation
Decrease in consumer spending
12
Which system of trade was commonplace for Aboriginal and Torres Strait Islander people
Swapping
Exporting
Debt
Bartering
13
Which of the following are two reasons for government intervention?
conservation of natural resources, gross domestic product
energy pricing, prevention of environmental degradation
energy pricing, taxes
economic growth, energy pricing
14
Which of the following were impacts of the Global Financial Crisis in 2008?
Large financial institutions became bankrupt
World stock markets collapsed
Severe global economic recession
Governments implemented financial rescue packages
15
Which of the following are examples of leakages from the circular flow model
Savings, taxation, imports
Exports, taxations, investment
Exports, savings, investment
Expenditure, savings, taxation
