HASS Econmy Y9 Flashcards
Transnational Corporation
a company that operates in two or more countries
Supply Chain
the sequence of processes involved in the production and distribution of a commodity
Quaternary Industry
innovation
Service Industry
A service industry is one that provides intangible products or services
Secondary Industry
building
Primary Industry
raw matriels
Cash rate
When banks need money, they borrow from each other. The cash rate is the interest they pay to borrow this money.
RBA
Reserve Bank of Australia
Fiscal Policy
when the govment rasies or decrrses taxes to change the econmy
Unemployment
persentgae
the number of peoeple currantly not looking for work or not emplyed
4%
Inflation
Inflation is when the prices of most goods and services rise over time
3%
Economic Indicator
An economic indicator is like a speedometer for an economy.
It’s a number that tells us how fast the economy is growing or shrinking
Trade Deficit
A trade deficit happens when a country imports more goods and services than it exports
Trade Surplus
a country exports more goods and services than it imports
Economic Growth
means an economy is expanding. This means it’s producing more goods and services than before
