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Economics Exam > Exam Overall > Flashcards

Exam Overall Flashcards

1
Q

When did federation occur and why?

A
  • On 1st January 1901
    National Defence Concerns: French in New Caledonia - too close for comfort, Germans in New Guinea and Samoa - colonial sea routes at risk, Russians - after Crimean War posed a threat as Britain was on other side, Australia built fortresses along seaports, which shows public fear. Immigration Concerns
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2
Q

Who is the head of state?

A

Queen Elizabeth II

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3
Q

Who represents queen at federal and state level?

A
  • At Federal level the queen is represented by the Governor-General. Peter Cosgrove.
  • At State level the queen is represented by each state’s governor. Linda Dessau.
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4
Q

What are other names for upper and lower house at State and Federal level?

A
  • FEDERAL LEVEL
    The uppers house is known as the Senate
    The lower house is known as the House of Representatives
  • STATE LEVEL
    The upper house is known as the legislative council
    The lower house is known as the legislative assembly
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5
Q

Political party in power now

A

Liberal

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6
Q

Primeminister

A

Malcolm Turnbull

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7
Q

How many members in house?

A
  • STATE LEVEL:
    Lower house - legislative assembly has 88
    Upper house - legislative council has 40
  • FEDERAL LEVEL:
    Lower house - house of representatives has 150
    Upper house - Senate has 76
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8
Q

Who is the Premier?

A

Daniel Andrews

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9
Q

Names of the major political parties and two minor parties.

A 
The major political parties  
- Liberal
- Labour
The Minor political parties  
- The Nationals
- Green’s
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10
Q

Type of voting system used in Australia, who can vote, when elections are held?

A

Preferential system who can vote any citizen of Australia, who is over the age of 18 and who is registered to vote.

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11
Q

Who are the three separation of powers?

A

The three bodies are Judicial (high court and federal courts), executive (queen and pm and ministers) and legislative

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12
Q

What’s Bicameral?

A

Consists of 2 houses and queen

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13
Q

What’ a backbencher?

A

A Minister that does not have a portfolio in an area of responsibility

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14
Q

What are the 3 levels of parliament?

A

Federal, State and Local

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15
Q

What does the Federal Parliament look after?

A

Federal Parliament looks after National issues, Defence, Migration, Postage, National Highways

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16
Q

What does the State Parliament look after?

A

State Parliament looks after Health (hospitals) Education (schools), State Roads

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17
Q

What does the Local Government look after?

A

Local Govt (Shire) rates, garbage, minor roads and streets, fire restrictions, child care centres

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18
Q

When are elections held?

A
  • Every 4 years at state level

- Every 3 years on Federal but can be shorter if the Prime Minister decides

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19
Q

How can you be disqualified to vote?

A
  • you are in prison serving a sentence of three years or more
  • you are of unsound mind (incapable of understanding the nature and significance of voting);
  • you have been convicted of treason or treachery and have not been pardoned
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20
Q

Separation of powers – what is it?

A

It means that the lawmakers are separated from the jlaw enforces. The separation of powers is when all three bodies are completely separate, this is so they can act as a check and balance on each other and no one body has absolute power.

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21
Q

What does Parliament do?

A

The Parliament makes and amends the law

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22
Q

Who is part of parliament?

A

Parliament (also referred to as the Legislature) is made up of the Queen (represented by the Governor-General), the Senate and the House of Representatives

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23
Q

What does the Judiciary do?

A

The Judiciary makes judgements about the law

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24
Q

Who is part of the Judiciary?

A

The Judiciary is made up of the High Court and other federal courts

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25
Q

What does the Executive do?

A

The Executive puts the law into action

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26
Q

Who is part of the Executive?

A

The Executive is made up of the Queen (represented by the Governor-General), Prime Minister and ministers

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27
Q

What is a Minister?

A

A member of government with a portfolio in an area of responsibility

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28
Q

Name a minister, their chamber and portfolio

A

Malcolm Turnbull’s portfolio is Prime minister and his chamber is house

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29
Q

What is a government?

A

the group of people with the authority to govern a country or state; a particular ministry in office. Party with the majority of seats won in the lower house

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30
Q

What is Parliament?

A

all the parties

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31
Q

What are the 8 steps of making a law?

A
  1. Proposed new law discussed in Cabinet
  2. Government committees with their lawyers draw up a Bill.
  3. First Reading (homework) by members of parliament
  4. Second Reading - Bill is presented by the appropriate
    Minister and is debated in parliament by both Government and Opposition
  5. Following this Second Reading it goes back to committees for modification this is known as “Consideration in Detail”
  6. Third Reading - in Lower House, if passed Bill then gets sent to Senate
  7. Senate debates Bill and may send it back to the House of Representatives many times. If they approve it however it is sent to the Governor General for the Royal Assent.
  8. If the Governor General approves the Bill and signs it then it becomes an Act (Act of Parliament) and therefore becomes the law.
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32
Q

Name the courts from Highest to Lowest

A

High Court
Supreme Court
County Court
Magistrates Court

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33
Q

What does the Magistrates Court deal with?

A

main court hearing more than 90% of cases. There is no jury and the court sentence is administered by the magistrate. They deal with both Civil and Criminal cases. Civil cases up to $100,000 and minor criminal cases e.g stealing, drink driving, indecent exposure

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34
Q

What does the County Court deal with?

A
  • Case heard by Judges. Deals with serious vcivil claims (over $100,000) and also major crimes such as Rape, Manslaughter, Armed Robbery. Hears appeals from the Magistrates Court. Can have a jury but not always has one.
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35
Q

What does the Supreme Court deal with?

A

The highest Court in the states. Deals with very serious Criminal cases, such as Murder and large sums of money in Civil cases.

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36
Q

List 5 rights you have when you’re arrested

A
  • You can be arrested if police have a warrant or reasonable suspicion that you have broken the law.
  • You must be told the charge and that you are under arrest
  • You must be told that you do have to say anything as it may be used against you as evidence
  • You can make a call to a friend and a legal representative
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37
Q

What are the 2 types of laws?

A

Civil and Criminal

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38
Q

What is civil law?

A

allows people to bring action against another person for negligence, trespass, defamation, nuisance and breach of contract

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39
Q

What is criminal law?

A

laws against society e.g. robbery, homicide (murder and manslaughter) rape, assault, theft, drug offences

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40
Q

What’s the difference between a rule and a law?

A

A RULE is made by an organisation to regulate or control its members. A LAW is made by parliament and is their to protect Society.

41
Q

What is the accused?

A

person accused of committing a crime

42
Q

What is a defendant?

A

person defending themselves against a charge

43
Q

What is a prosecutor?

A

person bringing the charge to the court and trying to prove that you are guilty by providing evidence of your crime. Is often a policeman in the Magistrates court.

44
Q

What is a barrister?

A

someone who represents you in court and argues your case. may also be referred to as COUNSEL for the DEFENCE

45
Q

What is a solicitor?

A

someone who assists the Barrister compile your case

46
Q

What is a judge/magistrate?

A

hears the evidence and sentences you if guilty. Addressed as “Your Honour”

47
Q

What is the tipstaff

A

helps the judge keep the court in order and running smoothly.

48
Q

What is the judge’s associate?

A

assists the judge with legal advice.

49
Q

What is an effective law?

A

Consistent, Acceptable, Knowledgeable, Enforceable

50
Q

Legal age of responsibility for a crime

A

You cannot be charged with a crime if you are under 10.
You must go to a Children’s Court if you are less than 18
Above 18 it is the 3 courts for adults

51
Q

Methods used by groups to try and change laws made by government.

A 
Petitions
Rallys
Protests
TV
Appeals to courts
52
Q

What are needs?

A

something that is necessary to live

53
Q

What are wants?

A

something extra that is above a need

54
Q

What are goods?

A

products that have been manufactured

55
Q

What are services?

A

work done by others for you e.g. plumber, electrician

56
Q

What is demand?

A

the amount of goods and services that consumers want to purchase

57
Q

What is supply?

A

The amount of goods and services that producers are willing to sell

58
Q

What is GDP?

A

Gross Domestic Product - it is a way of estimating the worth of a country by dividing what it produces per capita or head of population

59
Q

What is macroeconomics?

A

looking at the “big picture” or studying the economy as a whole e.g. Inflation, unemployment and

60
Q

What is microeconomics?

A

looking at parts of the economy that affect particular businesses

61
Q

What are resources?

A

potential products that can be exploited by mining, growing, fishing etc

62
Q

What is depression

A

no real world definition but in Australia when economic growth has fallen over 6 months

63
Q

What is recession?

A

when there has been a slowing down in the growth of the economy for a quarter.

64
Q

Cause of USA global financial crisis?

A

Banks made too much money too quickly and increased prices of houses and so people couldn’t afford the ineterst and debt

65
Q

What is the economic issue of a draught?

A

the sustained lack of water which impacts on famers and their capacity to provide goods for the market

66
Q

What is the economic effect of the rising AUD?

A

a high dollar AUD c.f. the USD means that we have trouble selling our goods to the rest of the world (exporting)

67
Q

What is the economic effect of the lower AUD?

A

means that we can export easier and be more competitive but we will pay more for overseas trips and for imports

68
Q

What is World recession and what is the effect?

A

occurs when the economies of the world are all being less productive at the same time. Since countries lend and borrow money from each other everyone is affected if the economy of one country becomes bankrupt

69
Q

What is housing boom?

A

occurs when the demand for houses exceed the supply and the price of houses becomes very high.

70
Q

What is a cabinet?

A

Cabinet is a group within the executive government consisting of the Prime Minister and top-level ministers.

71
Q

How do you win an election at state level?

A

The majority of seats in the lower house of state government for the party to win, the leader of that party becomes the premier at state level.

72
Q

How do you win an election at federal level?

A

The majority of seats won in the lower house of federal government for the party to win, the leader of that party becomes the Prime Minister.

73
Q

What does a legislation need to pass through and how it is approved?

A

It needs to pass through both houses, upper and lower, and it’s approved by royal assent given by the queens representative

74
Q

What is a constitutional monarchy?

A

Constitutional monarchy is a form of government in which a king or queen acts as Head of State

75
Q

What is the westminister system?

A

The Westminster system is a democratic parliamentary system of government modeled after that which developed in the United Kingdom. The system is a series of procedures for operating a legislature.

76
Q

What’s the only way to change the constitution?

A

A referendum written by the people of Australia

77
Q

What level need to gain majority to become a government

A

Lower

78
Q

What day must an election be held?

A

A Saturday

79
Q

What is a proposed law?

A

A bill

80
Q

When does a proposed law become an act

A

When it’s given royal assent

81
Q

Why are we the lucky country ?

A

High standard of living
Laid back lifestyle
Economic prosperity
Massive reserves of minerals

82
Q

ADVERSARIAL SYSTEM

A

Adversary system is the system used in Australian courts it’s where both parties present their case in front of an impartial adjudicator

83
Q

Who is the opposition leader?

A

Bill Shorten

84
Q

When polling booths close?

A

6pm

85
Q

What is our political sysetm based on?

A

The Westminister system

86
Q

What does the jury use to determine and outcome?

A

Evidence

87
Q

How do you become a government after election ?

A

Majority of votes against a party

88
Q

What is inflation?

A

Rise of prices

89
Q

What is a market?

A

A regular gathering of people for the purchase and sale of goods

90
Q

What is primary industry?

A

Those businesses in which production is directly associated with natural resources

91
Q

What are natural resources?

A

Materials and substances occurring in nature which can be exploited for economic gain

92
Q

What are capital resources?

A

Goods made and used to produce other goods and services like tools and machinery

93
Q

What are human resources?

A

The skills and attributes a person has to improve business/ideas/jobs etc.

94
Q

In what way does a pay rise to employers earning under $70 000 impact the economy?

A

Leads to higher prices and encourages to spend

95
Q

What are 2 branches of economics?

A

macro and micro

96
Q

What are the 2 most important economic terms?

A

supply and demand

97
Q

Are importers or exports affected by the rise of the dollar?

A

importers because they spend more

98
Q

What does the government do to help the economy when inflation is high?

A

decrease taxes

99
Q

What is the constitution?

A

The Australian Constitution is the set of rules by which Australia is run.

Economics Exam (4 decks)

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