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Economics > Legal And Ecomomics Exam > Flashcards

Legal And Ecomomics Exam Flashcards

1
Q

What is government

A

the group of people with the authority to govern a country or state; a particular ministry in office.

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2
Q

What is the process of making a law

A
  • a bill is firstly suggested
  • Then a bill is introduced into parliament
  • Then the bill is passed down to the house of representative
  • If the bill is passed, it is then send to the senate
  • if the senate agree to the bill, the Governor General signs the bill and it becomes a law. This is referred to as the royal assent
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3
Q

What is the role of the government

A

The role of the government is to ensure that society is Safe,secure and harmonious by exercising their power to control and administer public policy.

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4
Q

What is the role of the House of Representatives

A

The role of the House of Representatives is known as the people’s house and is the legal voice of society towards the government, contains elected members of society

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5
Q

What is the role of the Senate

A

The role of the senate is to pass bills, debate, Scrutinise government and represent the people of Australia. The Senate is made up of 76 senators which are divided among the states.

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6
Q

Define Law

A

A law is a system of rules which a particular country or community recognizes as regulating the actions of its members and if not followed leads to punishment decided by the court.

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7
Q

Define Rule

A

A rule is one or a set of regulations governing conduct or procedures within a particular area of activity

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8
Q

What are the functions of Laws

A
  • To protect society
  • To establish acceptable conduct in society
  • to facilitate change
  • To establish means for resolutions of disputes
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9
Q

what is an Indictable offence

A

An Indictable offence is a serious offence that is divided into two categories, crime against people and crime against property.

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10
Q

What is a Summary offence

A

A Summary offence is a less serious crime, such as drink driving and not putting on your seatbelt, these cases are handled by the magistrate’s court.

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11
Q

What is Criminal Law

A

Criminal law is a body of rules and statutes that define conduct prohibited by the goverment because it threatens and harms public saftey and wellfare.

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12
Q

What is Civil Law

A

Civil Law is concerned with the right and responsibilities of individuals. it aims to settle disputes between two or more individuals or organisations.

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13
Q

What is the role of the Jury

A

The Jury is to hear the evidence presented to the court and then decide wheater the accused is guilty or innocent of the charge based on the evidence.

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14
Q

What is the role of the police in society

A

The role of the police is to enforce the laws made by the parliament, ensuring the community is protected from crime and help maintain a safe and orderly society. ( prevention,Detection, and prosecution)

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15
Q

What is the burden of proof

A

The burden of proof is when a person is charged with a crime,however, is entitled to the presumption of innocence; that is, they are presumed innocent until proven guilty,

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16
Q

What is Standard of proof

A

It is the level of certainty of evidence required to prove the case, which must be presented by the prosecution.

17
Q

List the Court personnel

A
  • Lawyers
  • Judge or justice
  • Magistrate
  • Judge’s associates
  • Tipstaff
  • Crown prosecutor
  • Defence barrister
  • Solicitors
  • Witnesses
  • Jury
18
Q

Magistrates’ court’s Jurisdiction

A

They hear minor indictable offenses and all summary offences

19
Q

County Court’s jurisdiction

A

Hears all serious indictable offences,expect for murder.

20
Q

What are the two divisions of the Supreme Court

A

Court of Appeal and Trial division

21
Q

What cases does the court of appeal hear

A

They hear all appeals of the County Court

22
Q

What is the Jurisdiction of the Trial division

A

The trial division hears most serious cases, such as murder and treason.

23
Q

High court of Australia jurisdiction

A

The high court functions to hear appeals from state supreme courts throughout Australia and hearing cases that require interpretation of the constitution.

24
Q

What is Jurisdiction

A

The authority of a court to hear and decide a dispute on particular cases and offenses.

25
Q

What is the law of supply

A

States that as the price of an. item increases, the amount of suppliers also increase

26
Q

What is the law of demand

A

States that as the price of an item increases, the quantity demanded reduces.

27
Q

What are the factors that shift the supply curve

A
  • Change of cost in resources
  • Technological changes
  • Natural disasters
  • Government actions
  • number of suppliers or markets
  • Seasonal conditions
28
Q

What are the factors that shift the demand curve

A
  • Level of disposable income
  • Taste in fashion
  • Price and availability of substitute
  • Price and availability of complementary products
  • Consumer confidence
  • Size of market
29
Q

What is inflation

A

A rise in the general level of prices of good and services in an economy over a period of time.

30
Q

What is Hyperinflation

A

It is an extremely rapid period of inflation usually caused by a rapid increase in the money supplied. Usually due to an unrestrained printing of fiat currency.

31
Q

What is an exhaustible resource

A

When a resource is exhaustible it means it is limited in it;s supply and cannot be replaced; it will eventually run out.

32
Q

what is a renewable resource

A

when a resource is renewable it is available as long as they are not abused or overused.

33
Q

What are the types of unemployment

A
  • Structual unemployment
  • Cyncial unemployment
  • Frictional unemployment
  • Seasonal unemployment
  • longterm unemployment
  • hardcore unemployment
34
Q

What is an Act of Parliament

A

A law made by parliament

35
Q

What is a bill

A

A draft for the act of parliament

36
Q

What is the role of the cabinet

A

The role of the cabinet is to direct government policy and make decisions about national issues

Economics (3 decks)

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