economics + geography

What is competitive advantage?

A factor that helps a business outperform rivals and attract customers.

What is cost leadership?

A strategy where a business aims to be the lowest-cost producer.

What is differentiation?

Offering unique features, quality or branding that customers value.

What is a niche or focus strategy?

Targeting a specific, narrow group of customers.

What is market share?

The percentage of total industry sales controlled by a business.

What is an entrepreneur?

Someone who spots a market opportunity and takes the financial risk of starting a business.

Name three qualities of an entrepreneur.

Resilience, creativity and willingness to take risks.

What are the 5Ps of marketing?

Product, Price, Place, Promotion and People.

What does Product mean in the 5Ps?

The good or service a business sells.

What does Price mean in the 5Ps?

The amount customers pay for a product or service.

What does Place mean in the 5Ps?

Where and how customers access or buy a product.

What does Promotion mean in the 5Ps?

How a business communicates with customers to encourage sales.

What does People mean in the 5Ps?

The staff and people who affect the customer experience.

What is penetration pricing?

Setting a low starting price to attract customers quickly.

What is price skimming?

Starting with a high price and lowering it over time.

What is premium pricing?

Charging a high price to suggest quality or exclusivity.

What is competitive pricing?

Setting prices in relation to competitors’ prices.

What is psychological pricing?

Using prices like $9.99 to make products seem cheaper.

What is a target market?

The specific group of customers a business aims to reach.

How can a business name limit its target market?

A name may suggest it sells only certain products or serves a narrow group.

How can expanding a product range widen a target market?

It can attract customers with different needs and interests.

What is advertising?

Paid promotion used to communicate a message to an audience.

What is public relations (PR)?

Managing reputation and relationships, often through earned media and public communication.

How is advertising different from PR?

Advertising is paid promotion, whereas PR builds reputation and relationships.

What is influencer marketing?

Using online personalities to promote products or services.

What is one benefit of influencer marketing?

Influencers can reach their followers and help promote a brand.

Why should influencers disclose paid or gifted promotions?

To be transparent that content is promotional.

What does #ad communicate?

It tells audiences that content is advertising.

What is the AANA Code related to?

Advertising industry rules and standards for responsible advertising.

What is the role of the ACCC?

It enforces Australian consumer and competition laws.

What does Ad Standards do?

It handles public complaints about advertising in Australia.

Why can influencer marketing be risky with vulnerable audiences?

Audiences may be more easily influenced or may not recognise promotional content.

What does CSR stand for?

Corporate social responsibility.

How can CSR improve brand reputation?

Responsible actions can build public trust and customer loyalty.

What is brand reputation?

How the public views and trusts a business.

What is greenwashing?

Misleading or exaggerated claims that a business is environmentally friendly.

Name two consequences of greenwashing.

Loss of customer trust and damage to brand reputation.

What should a business do during a crisis?

Acknowledge the issue, apologise, act, adapt and communicate.

What is one benefit of rebranding?

A new name can reflect a wider product range and attract more customers.

What is one risk of rebranding?

Customers may not recognise the business or the brand may lose existing recognition.

How does owning stores differ from franchising?

Owned stores are run by the business; franchises are operated by franchisees under its brand.

How can store design support a local community?

It can suit local customers’ needs and improve their shopping experience.

What is weather?

Short-term atmospheric conditions at a particular time and place.

What is climate?

The long-term average pattern of weather, usually measured over 30 or more years.

How are weather and climate different?

Weather is short-term, whereas climate describes long-term patterns.

What is global warming?

The long-term rise in Earth’s average temperature.

What is climate change?

Long-term changes in temperatures and weather patterns.

How are global warming and climate change different?

Global warming is rising average temperature; climate change includes wider changes in climate patterns.

What does anthropogenic mean?

Caused by human activity.

Name four natural causes of climate change.

Volcanic eruptions, solar variation, orbital cycles and ocean currents.

What is a major human cause of current global warming?

Burning fossil fuels, which releases greenhouse gases.

Name three fossil fuels.

Coal, oil and natural gas.

What is the greenhouse effect?

The natural process in which atmospheric gases trap heat and warm Earth.

What is the enhanced greenhouse effect?

Extra greenhouse gases trap more heat, increasing global temperatures.

Name four greenhouse gases from the worksheet.

Carbon dioxide, methane, nitrous oxide and water vapour.

How does burning fossil fuels increase global warming?

It releases carbon dioxide, strengthening the greenhouse effect and trapping more heat.

How can climate change affect Australia?

It can increase heatwaves and change extreme weather, bushfire and flood risks.

What is one global effect of climate change?

Rising sea levels.

What is mitigation?

Actions that reduce the causes of climate change.

What is adaptation?

Actions that adjust to climate impacts or reduce the harm they cause.

What is the Great Barrier Reef?

A reef system off Queensland, Australia, over 2,300 kilometres long.

Approximately how many reefs make up the Great Barrier Reef?

Around 2,900 reefs.

Approximately how many islands are in the Great Barrier Reef region?

Around 900 islands.

Why is the Great Barrier Reef environmentally important?

It supports diverse marine life and ecosystems.

Why is the Great Barrier Reef economically important?

It supports tourism and jobs and contributes to the economy.

What is Sea Country?

The sea and coastal areas with which Aboriginal and Torres Strait Islander peoples have cultural connections and responsibilities.

Why is the reef culturally significant to First Nations peoples?

It is connected to identity, spirituality, Sea Country and continuing cultural practices.

What are Dreaming stories?

Stories that communicate cultural knowledge, relationships and connections to Country.

What is coral bleaching?

When stressed corals expel the algae living in their tissues and turn white.

What causes coral bleaching during heat stress?

High sea temperatures stress corals, causing them to expel their algae.

Why can repeated coral bleaching kill coral?

Without their algae, corals lose a major source of food and may die if stress continues.

How does climate change make coral bleaching more likely?

Rising sea temperatures increase heat stress on corals.

What is ocean acidification?

The lowering of seawater pH as oceans absorb extra carbon dioxide.

How does ocean acidification harm coral?

It makes it harder for corals to build and maintain their calcium carbonate skeletons.

How does runoff harm coral reefs?

Sediment, nutrients and fresh water can reduce water quality and damage corals.

How can sediment harm coral?

It can block sunlight and settle on corals.

How can excess nutrients harm coral reefs?

They can cause algal blooms that affect reef ecosystems.

How can fresh water from runoff harm coral?

It can lower seawater salinity and stress corals.

What are the three main parts of a tropical cyclone?

The eye, eyewall and rainbands.

What is the eye of a cyclone?

The relatively calm central area of a cyclone.

What is the eyewall of a cyclone?

The ring around the eye containing the strongest winds and intense weather.

What are cyclone rainbands?

Bands of clouds and storms that spiral around the cyclone.

How can a severe cyclone harm the reef in the short term?

Strong waves and winds can break coral and stir up sediment.

How can cyclones harm the reef in the long term?

Damage to coral structure can reduce habitat and slow reef recovery.

Give one example of climate change mitigation for the reef.

Reduce fossil fuel use and greenhouse gas emissions.

Give one example of climate change adaptation for the reef.

Improve reef monitoring and management to reduce other pressures and support recovery.

How are mitigation and adaptation different?

Mitigation reduces causes; adaptation reduces harm from impacts.

What does BOLTSS stand for?

Border, Orientation, Legend, Title, Scale and Source.

How do you describe a trend in a data table?

State the overall pattern and support it with figures from the data.

What is the percentage change formula?

((New value − Original value) ÷ Original value) × 100.

Days above 35°C rise from 8 to 20. What is the percentage increase?

((20 − 8) ÷ 8) × 100 = 150%.

What does a relationship in geographical data mean?

A connection or pattern between two or more variables.

What does identify mean in an exam question?

Recognise and name something.

What does state mean in an exam question?

Give a brief, specific fact, name or value.

What does define mean in an exam question?

Give the precise meaning of a term.

What does describe mean in an exam question?

Give details about features, characteristics or trends.

What does outline mean in an exam question?

Briefly give the main points.

What does distinguish mean in an exam question?

Explain how two things are different.

What does compare mean in an exam question?

Explain similarities and differences.

What does explain mean in an exam question?

Show how or why something happens, including reasons and cause and effect.