Year 10 Hass Semester 1 Exam Revision Flashcards

Economics and History

1
Q

Define interwar years:

A

The interwar years are a period of time between World War 1 and World War 2.

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2
Q

Define hyperinflation:

A

When the price of goods and services rise quickly in a short period of time, to the point it becomes worthless

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3
Q

Define extremism:

A

Extremism is holding extreme beliefs or engaging in extreme actions in pursuit of ideas– fanaticism.

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4
Q

Define armistice:

A

A formal agreement between two countries or groups at war to stop fighting for a particular time, especially to talk about possible peace.

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5
Q

Define reparations:

A

Reparations are a specific amount of money a defeated country is forced to pay to cover war costs of the winning countries.

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6
Q

Define appeasement:

A

Giving into the demands of the opposing side in order to prevent further disagreement.

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7
Q

List 2 events that occured in the interwar years?

A

The Dawes and Young Plans and the Great Depression

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8
Q

What happened in the Young and Dawes plan?

A

The Dawes plan was first introduced in 1924, by a Chicago Banker called Charles G. Dawes. It reduced the reparations Germany owed, increasing over time as their economy grew. 4 years later, in 1928,
Young, a member of the Dawes committee, introduced the Young Plan. It reduced the reparations Germany owed to $29 billion payable over 58 years. It also came with the creation of a bank for International Settlements that enabled the payment of reparations

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9
Q

What happened in the Great Depression?

A

In October 1929, the US stock market crashed triggering a worldwide economic downfall. From that year to 1929, the world went through a period known as the Great Depression. Poverty and unemployment increased around the world and civilians began to blame their governments. Countries like Germany and Japan who had substantial loans from the US had them recalled which contributed to the severe economic downfall.

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10
Q

What was the Treaty of Versailles?

A

The Treaty of Versailles was a peace treaty signed by Germany and other defeated nations in World War 1. It was signed on the 28th of June 1919, officially ending the first war.

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11
Q

Who negotiated the Treaty of Versailles?

A

The Allies negotiated the treaty with little input from Germany.

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12
Q

List 3-5 key terms of the Treaty of Versailles:

A
  1. Pay $32 billion in reparations
  2. Limit their army to 100,000 soldiers.
  3. Hand in all tanks and heavy artillery.
  4. Accept sole responsibility
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13
Q

Outline the main causes of World War 2

A

The main causes of the World War were the unfair Treaty of Versailles, Appeasement and Militarism, Rise of the Nazi Party, The Great Depression and weakness of the League of Nations.

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14
Q

What was the League of Nations?

A

An international forum created in the hope of stopping the horrors of WW1 reoccuring.

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15
Q

What were nations in the LON encouraged to commit themselves to?

A

Reduce weapons, support each other, respect each other territories, and bring any disputes before an international court.

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16
Q

Which nations formed sides in World War 2?

A

Triple Alliance - Germany, Italy, and Japan.
Triple Entente - UK/Australia, USA, France, Russia

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17
Q

Describe the attitudes of the Japanese soldiers in WW2

A

Japanese culture taught that surrender was not an option and that is better die in glory than the live as a coward. The Japanese had unwavering loyalty to their country and emperor and strict discipline.

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18
Q

What is Bushido?

A

Bushido means ‘way of the warrior’. It was a code of conduct for samurai in feudal japan. It is believed to have dated back to the 18th century and requires samurai to live and die with honour.

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19
Q

Outline the principles of Bushido:

A

Frugality, benevolence, respect, sincerity, and honor, righteousness, courage, loyalty, honesty

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20
Q

Why was Kokoda significant in the defeat of the Japanese?

A

It prevented Japan’s plans for further expansion in the Pacific, and marked a turning point in the Allied effort by demonstrating that Japanese forces could be stopped and pushed back on land.

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21
Q

Where did Australian soldiers serve and fight?

A

Australian soldiers fought in the Kokoda Battle in Singapore, Papua New Guinea, Africa, and Europe.

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22
Q

How did Japan successfully secure victory in the Fall of Singapore?

A

The Japanese outsmarted the British military by fighting in ways the British had not thought of:
- They attacked by air and foot.
- Came through Malaya not Singapore.
- They used great speed on light tanks and soldiers on bicycles.
- Beach defences weren’t built so the British weren’t protected.
- There were no obstacles on the landing.
- They came through the jungle which the British through impenetrable.

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23
Q

Describe the conditions soldiers faced on the Kokoda Track:

A

The Kokoda track was a very dangerous area. The soldiers faced heat, humidity, dense jungle, lack of food and sleep, insects, mud, and steep mountains

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24
Q

Why is Kokoda considered a significant battle for Australian forces in WW2?

A

If the Japanese had successfully captured Papua New Guinea, it would have placed Australia in a vulnerable state.
It represented a critical defence of Australia against Japanese invasion.
Showcasing the courage and resilience of Australian soldiers in challenging terrain and harsh conditions

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25
Q

List the two most famous Prisoner of War camps that Australia soldiers were interned in:

A

The Changi POW camp and the Thai-Burma Railway.

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26
Q

Describe what conditions were like for Prisoners of War:

A

Prisoners of war endured extremely harsh conditions in POW camps. They lived a life of torture, beatings, and humiliation. They were denied foot and medical assistance which often led to death and the spread of disease such as malaria, dysentery, and beriberi. They had to work for food and failure to work at a Japanese soldier’s satisfaction would result in beatings at the very least. Disrespect was not tolerated and often led to brutal punishments such as beheadings

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27
Q

Explain why the Japanese treated prisoners of war so harshly:

A

Prisoners of war were often mistreated due to disciplinary practices of the Japanese military, shortages of food and medical supplies, and a general disregard for the Geneva Conventions, which outlined the humane treatment of POWs. Additionally, there was a cultural belief in Japan that surrender was dishonourable, leading to a lack of respect and harsh treatment for those who were captured.

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28
Q

Who was the Japanese Emperor during WW2?

A

Emperor Hirohito

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29
Q

Who was the Japanese PM during WW2?

A

Hideki Tojo

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30
Q

Who was the USA leader during WW2?

A

Franklin Delano Roosevelt

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31
Q

Who was the German Leader during WW2?

A

Adolf Hitler

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32
Q

Who was the Italian Leader during WW2?

A

Benito Mussolini

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33
Q

Who was the Australian Leader during WW2?

A

PM John Curtin

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34
Q

Who was the Great Britain Leader during WW2?

A

Winston Churchill

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35
Q

Who was the French Leader during WW2?

A

Charles De Gaulle

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36
Q

Who was the Russian Leader during WW2?

A

Joseph Stalin

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37
Q

When did Germany surrender?

A

Germany surrendered with the signing of an armistice between its soldiers on November 11, 1918.

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38
Q

Explain how the government measures economic growth:

A

The size of an economy is measured using GDP. It’s measured using real or nominal GDP.

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39
Q

Explain how the government measures inflation:

A

The consumer price index measures the level of inflation. It uses a basket of consumer items to calculate the typical cost of living.

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40
Q

Explain how the government measures unemployment:

A

To be deemed unemployed a person must not have a job, actively seeking employment and be willing and able to work.

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41
Q

Define GDP

A

Gross Domestic Product is the total goods and services produced by consumers in a year.

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42
Q

Why is GDP often seen as insufficient as a measure of economic wellbeing?

A

GDP only measures economic growth and performance. It fails to indicate environmental quality, changes in income and standard of living.

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43
Q

Describe nominal GDP

A

Nominal GDP takes into account the current market price and changes in price over time. It’s not as reliable as it is heavily focused on price changes and inflation.

44
Q

Describe real GDP

A

Real GDP is adjusted to remove the impact of price changes. It is the better measure of economic performance.

45
Q

What is inflation?

A

Inflation is the broad increase in the price of goods and services. Bad for the economy as workers don’t get higher wages.

46
Q

Define HDI

A

The human development index is calculated by the united nations based on expected lifespan, average income, and education. It is an accurate measure of standard of living and quality of life in a country.

47
Q

What does HDI measure?

A

Measures how effectively economic activity is being translated into real improvement.

48
Q

Define price

A

The amount of money required in payment for something.

49
Q

Law of Demand

A

When price increases, demand decreases.
When price decreases, demand increases.

50
Q

Define price elasticity

A

When price increases, products will have a large drop in demand. However, they have substitutes so consumers can go to another producer.

51
Q

Define capital

A

The assets or resources that are used to produce goods or services

52
Q

Define price inelasticity

A

Products have little to no substitutes so consumers have no choice but to pay higher prices.

53
Q

Internal factors that influence consumer choice

A

Social and cultural, consumer preference, and psychological factors.

54
Q

How does finance influence consumer choice?

A

Some consumers may not have the available money to buy a product. Other options are available such as afterpay or loans.

55
Q

External factors that influence consumer choice

A

Price, marketing and finance.

56
Q

How do psychological factors influence consumer choice?

A

Relates to a consumers level of motivation and need when purchasing a product.

57
Q

Define productivity

A

The amount of output per unit of input measured over time.

58
Q

Define capital investment

A

The amount of money spent on buying or upgrading assets like machinery, equipment, technology.

59
Q

Define inventory

A

The stock of goods and materials that a business holds for the purpose of production of use in future.

60
Q

Benefits of an employee undertaking in-service training

A

Contributes to increased levels of efficiency and productivity. Allows flexibility and ability to perform tasks when needed.

61
Q

What are the benefits of a business improving their productivity?

A

Improving productivity allows businesses to produce more goods and services. This enables higher wages, aids economic growth, increases profits, and customer satisfaction.

62
Q

Define research and development

A

The funding of new innovations and the improvement of existing products and services.

63
Q

Define expanding market share

A

The process of expanding business operations to make more money in a market/industry.

64
Q

Define mergers

A

When two seperate companies combine to create a new, joint organisation.

65
Q

Define acquisitions

A

Refers to the takeover of one entity by another.

66
Q

How can a business expand its market share?

A

Buying another company, increasing brand awareness, expanding company to other places.

67
Q

Benefits of researching new products and technology

A

Helps business keep up with the latest technological trends. Diversify products, keeps employees engaged and motivated.

68
Q

Define standard of living

A

A person’s access to a standard of material goods and services.

69
Q

Define foreign investment

A

Inflows of money from overseas into a coutrny

70
Q

Define employment patterns

A

Shows how jobs are spread out in terms of sectors, industries, type of work, who’s doing the work, and where it’s happening in a country.

71
Q

The role that economic activity has in improving a nations standard of living.

A

If the economy is producing more, people can earn higher incomes, therefore, increasing the nations standard of living.

72
Q

What are the types of unemployment?

A

Frictional, Cyclical, Structural, Seasonal

73
Q

What is frictional unemployment?

A

The time taken to transfer from one job to another

74
Q

What is cyclical unemployment?

A

Associated with business cycles. It when workers are made redundant from a downturn in the economy.

75
Q

What is structural unemployment?

A

Workers available for employment don’t have the required skill set or experience needed for the jobs available.

76
Q

What is seasonal unemployment?

A

The demand for types of employees according to the season.

77
Q

What is economic activity?

A

All actions involved in producing, distributing and consuming goods and services.

78
Q

How does the government measure economic activity?

A

Real and nominal GDP, unemployment and inflation rate

79
Q

Alternative economic activity indicators

A

HDI, Better Life and Sustainability Index.

80
Q

What are trends?

A

They tell us how much of the labour force is not employed. People who can’t work aren’t included in the unemployment rate.

81
Q

Define scarcity

A

When a resource becomes very limited, reducing how much of something we can get.

82
Q

Define opportunity cost

A

A thing that is given up when you make a decision.

83
Q

What are the different employment patterns?

A

Participation rate, foreign investment, debt levels, and geography and natural resources.

84
Q

Define Participation Rate

A

Proportion of people of working age who are in the labour force.
Higher PR = Higher Standards of Living

85
Q

Describe Foreign Investment

A

Injects money into the economy in the form of lending, shares, and multinational firms.

86
Q

Describe Debt Levels

A

The more you borrow, the more of income spent on paying back debt. Government can build up higher levels of debt = higher proportion of tax is paid to service debt.

87
Q

How do you improve productivity?

A
  1. Investing in/Implementing new technology and applications.
  2. Capital investment in equipment and facilities.
  3. Improving system tasks and processes.
  4. Material and Supply Chain Management
  5. Training and Upskilling Workers.
88
Q

What is material and supply chain management?

A

The holding or storing of raw materials, component parts, work in progress and finished goods.

89
Q

Why is it important we have material and supply chain management?

A

To ensure the right quantities of parts and materials are available for operating systems to run smoothly and to ensure production matches’ demand.

90
Q

What is Investing/Implementing New Technology?

A

The use of science in order to accomplish commercial or industrial goals.

91
Q

Define propoganda

A

State sponsored messaging that is used to spread biased information and ideas.

92
Q

What is the aim of propoganda?

A

To make people think and feel a certain way - manipulating the target audience.

93
Q

Define censorship

A

The process of controlling access to information.

94
Q

What is the aim of censorship?

A

To prevent loss of moral and stop people panicking about bad news.

95
Q

Define conscription

A

Compulsory enlistment of people for military serving.

96
Q

What gave the government the power to conscript?

A

The Defence Act 1903, gave the government the power to conscript men to fight.

97
Q

What were the requirements for conscription?

A

Determined by age (25-31), health, marital status.

98
Q

Define manpower

A

Controls put in place to protect industries that the nation depended upon. Men these industries could volunteer to serve.

99
Q

Define rationing

A

The limiting of goods or services that are in high demand and short supply.

100
Q

Define enemy aliens

A

Nationals of countries at war with Australia, were kept in camps to isolate ‘spies’.

101
Q

What role did women play in World War 2

A

Millions of women did work in shipyards and factories during World War II. They worked as welders, machinists, and riveters.

102
Q

Describe Japan’s conditions before the 19th Century

A

Japan isolated themselves and used a social system like feudalism. They hadn’t experienced the industrial revolution and the development both economically and militarily.
Entered a phase of its history known as the Meiji restoration were they learned how to govern in a modern world, industrialise and build, train and supply a modern army.

103
Q

What were the 2 reasons Britain lost the Battle of Singapore?

A
  1. Not enough weapons.
  2. Underestimating the enemy
104
Q

How was the lack of weapons an issue?

A

Defence required lots of weapons and ammunitions. Needed about 350-550 aircraft. About 150 of them were antiquated.

105
Q

How was underestimating the enemy an issue?

A

British military was overconfident and underestimated Japanese ability to carry out a surprise attack. However, they lost almost 150 aircrafts and 2 warships within 2 days of attacks on Singapore.

106
Q

Why did Japan want Singapore?

A

Singapore was Britain’s key to Asia-Pacific region and it was important for their defence strategy. It was also home to leading British naval base in that region.

107
Q

Describe one of the main camps in detail?

A

Changi POW camp was a collection of British Army barracks and several small civilian prisons, that held as many as 70,000 POWs.