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YEAR 10 COMMERCE

YEARLY EXAMINATION NOTIFICATION AND STUDY GUIDE 2010


Week Commencing 18/10/10

CONTENT

Focus Area One: Our Economy

• Economic Links: -five sector flow of income model


-factors of production
-the basic economic problem (unlimited wants vs. limited
resources)

• Prices: - The law of demand and supply


- Shifts in the supply/ demand curves
-Reasons for shifts/ contractions or expansions in either the demand or
supply curve.
-Equilibrium situation.

• The Economic (business cycle): Characteristics of the different stages

• Economic growth: how is it measured?

• Consumer Spending: how does the economy affect consumers spending


habits?

• Interest rates: -The difference between savers and borrowers


-Short term loans vs. long term loans
-Advantages/ disadvantaged of fixed vs. variable interest rates
-The impact of increasing/decreasing interest rates on
consumers, business and the economy

• Consumer and Business Confidence: How does the state of the economy
affect both business and consumer confidence?

• Employment/ unemployment:: - What is the current rate?


- How is it measured?
- Impact on the government

• Inflation: -Affect on consumer prices


- How is it measured?
- Effects of inflation on different groups in the economy
1
• Exchange Rates: - the difference between fixed vs. floating exchange rates
- Effects of exchange rate fluctuations on both consumers and
business

• Trade: - Australia’s main exports and imports


- Benefits of trade
- MNC’s & TNC’s

Focus Area Two: Political Involvement

• Government: role of the different levels of government, local, state and federal

• Parliament: Upper house & Lower house

You SHOULD also revise the first two topics we studied; Employment Issues and
Law & Society as you WILL also be assessed on these throughout the
Examination.

LENGTH OF EXAMINATION: 90 minutes

FORMAT OF EXAMINATION:

Section A: Multiple choice (15 marks)

Section B: Short answer questions (30 marks)

Section C: Extended response question (20 marks)

EQUIPMENT NEEDED: Pens, pencils, and Calculator

IMPORTANT: No student is to answer their examination questions using


PENCIL. They are to use either a BLUE or BLACK pen only. Not pink, or green
or red or orange!!!!!!!!!!!!!