HASS EXAM

REVISION GUIDE – Part 1: ECONOMICS

□ Different economic systems

□ Australia’s major imports and exports, and why these products are traded.

□ Australia’s major trading partners.

□ The significance of Australia’s trade relationship with China.

□ Advantages and disadvantages of both imports and exports

□ 5 Sector Circular Flow of Income Model, including leakages and injections

□ Specialisation

□ Free Trade Agreements

□ Global Supply Chains and the factors that influence these chains

□ Transnational Corporations (TNCs)

REVISION GUIDE – Part 2: BUSINESS

□ Competitive advantage

□ Innovation in business

□ Aboriginal & Torres Strait Islander Businesses develop opportunities in the market

□ P’s of marketing (4 – Product, Price, Place, Promotion)

□ Savings (simple and compound interest)

□ Financial Risk vs Reward

□ Stock Market

□ Property Investment

□ Superannuation

□ Interest Earning Investments