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CDSHS Intro Economics Year 11 Flashcards | StudBud

Explore/CDSHS Intro Economics Year 11

CDSHS Intro Economics Year 11

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Questions 10

Answers

1
What is NOT part of Land as a Factor of Production?
land
minerals
machinery
water
2
Financial Capital facilitates......
an abundance of wealth for everyone
building of mental attitude
building of physical fitness
building of physical capital
3
What is one of the 4 aspects of "pure capitalism"?
private property
when buyers and sellers interact
price coordinates
unrestricted markets
4
Place the following companies in order of Top 3 for revenue?
1. BHP 2. Woolworths 3. Wesfarmers
1. BHP 2. Wesfarmers 3. Woolworths
1. BHP 2. Telstra 3. CommBank
1. BHP 2. CommBank
5
What are the Factors of Production?
Land & Labour
Financial Capital
Land & Capital
land, labour, capital & entrepreneurship
6
What is NOT capital?
machinery
roads
shares
technology
7
What is the core of the Economic Problem?
scarcity
too much money
too many choices
unlimited resources
8
What are the three characteristics of Labour?
Size, skills & value of time
Cashflow
machinery & vehicles
unskilled & unproductive
9
What is an example of Entrepreneurship?
old products
using animals for testing
doing things better
beating staff
10
As of March 2015, was what the biggest company in Australia?
Commonwealth Bank
BHP
Woolworths
Wesfarmers