Economics concepts Quiz year 10

What was the name of the Cyclones that recently destroyed much of Australia's Banana Industry?

What does the term Scarcity mean?

Why did the Queensland Banana Industry have a large drop in profits and supply in recent years?

Activities that convey the value of a good or service to a consumer in order to increase sales is?

What does the term peak mean in relation to the Economic Cycle?

What is the Trough part of the Economic Cycle?

Which Australian state has 98% of the countries Banana industry?

What are the different parts of a TEAL paragraph?

What three (3) concepts can shape the consumers choice and demand for a particular item?

What is the lead in phrase for starting your evidence part of a TEAL paragraph?

What is the lead in phrase for the linking sentence part of your TEAL paragraph?

Goods or services that are not necessary but that we desire or wish for is..?

With Supply and Demand, what happens to demand if the price goes up?

With Supply and Demand, what happens if the price of an item goes down?

What is the lead in phrase for the analysis part of your TEAL paragraph?

What are the key parts of the Economic Cycle Diagram?

Goods or services that are required. This would include the needs for food, clothing, shelter and health care is?

The total market value of all goods and services produced within Australia in a given time frame is?