Economics Exam Revision Flashcards
What does the human development index (HDI) measure to evaluate a country economic performance?
health, education,income
Which indicator would an economist most likely use to assess the overall economic health of Australia through the well being of its citizens?
Overall economic health (GPD)
As of the latest data, how is Australias economy peforming in terms of unemployment trends?
steadily increasing
what does the sustainability index typically measure and why is it important for assessing a country like australia.
manages its resources over a long period of time
how does foreign investment directly impact a countrys economic performance and living standards?
exports technology jobs
which factor is most likely to cause a variation in living standards between two economically similar countries
there policies and how they manage their economics
how does a governments training and workforce development policy most likely affect the economy
improving skills and workers production
which policy is often used by governments to manage economic performance through demographic adjustments
immigration policy
what is a common government approach to minimise the negative externalities of industrial pollution
governments often impose regulations and provide incentives
what is the primary purpose of performing SWOT analysis in a buisness plan
strengths, weaknesses, opportunities, threats
what is meant by PLACE in a marketing plan
sales distribution
what are the typical components in a marketing plan
paid advertising, sponsored web content
what should a buisness mission statements provide
purpose and goals
give an example of a buisnesses opportunity in a swot analysis
a growing demand for product
what is typically included in the ‘PRODUCT OR SERVICE’ section of a buisness plan
what the buisness sells, how its sold, how unique
