Y10 Semester 2 Exam Revision Notes

Geography

Key Terms & Definitions

  • Finite: Limited or restricted quantity available.

  • Human Resources: People and their skills/knowledge used in producing goods/services.

  • Natural Resources: Materials from nature (water, trees, minerals) used by people.

  • Sustainability: Using resources to meet current needs without harming future generations.

  • Carbon Footprint: Total greenhouse gases (especially CO2CO_2) released by a person or group.

  • Climate Change: Long-term changes in global/regional weather patterns caused by human activity.

  • Culture: Shared beliefs, customs, language, and traditions of a group.

  • Globalisation: The process of businesses, ideas, and cultures spreading worldwide and becoming connected.

Geography: Key Definitions

  • Carbon Footprint: Total greenhouse gases emitted by human activities (e.g., driving, electricity use).

  • Sustainability: Meeting current needs without harming future generations (e.g., solar energy, recycling).

  • Natural Resources: Items from nature used by people (e.g., water, oil, coal, forests).

  • Resource Consumption: Rate at which we use resources (e.g., high electricity use in urban areas).

  • Income Levels: Average earnings in a population (e.g., High income = access to healthcare and education).

Environmental Sustainability

  • Living and developing in a way that protects the environment (e.g., reducing plastic use, replanting trees).

Case Studies

  • Examples of how geography impacts societies and the environment:

    • Deforestation in the Amazon

    • Pollution from industrialization

    • Water scarcity in rural regions

Economics

What is Economics?

  • Economics studies how people, businesses, and governments make decisions when resources are limited, but wants are unlimited.

Key Economic Terms

  • Equilibrium: When the quantity demanded equals the quantity supplied; the market is balanced.

  • Market: A system or place where buyers and sellers trade goods or services.

  • Shortage: When demand is higher than supply, leading to insufficient goods or services.

  • Surplus: When supply is higher than demand, resulting in leftover goods or services.

  • Competitive: A market with many sellers competing to sell similar products or gain market share.

  • Monopoly: Not defined in the text.

  • Regulations: Official rules set by authorities to control how things are done in a sector.

  • Auction: A public sale where people place bids, and the highest offer wins.

  • Sale: Lowering the price of an item to sell more or reduce extra stock.

  • Disposable Income: Money left after taxes and deductions, used for spending or saving.

New Economic Vocabulary

  • Finite: Limited or restricted quantity available.

  • Factors of Production: Basic resources used to produce goods/services: land, labor, capital, and entrepreneurship.

  • Capital Resources: Man-made goods used to produce other goods/services (machines, tools).

  • Producers: People or businesses that make or supply goods and services.

  • Consumers: Individuals or groups that purchase and use goods and services.

  • Markets: Any place or system where buyers and sellers interact to exchange goods and services.

  • Needs: Things necessary for survival (food, water, shelter).

  • Wants: Things people would like to have but are not essential for survival.

  • Entrepreneurship: The skill and willingness to start and run a business, taking risks to earn profits.

  • Goods: Physical items that can be touched and bought (food, clothes).

  • Services: Actions or activities provided by others for payment (teaching, cleaning).

  • Free Goods: Goods that are abundant and available without cost (air, sunlight).

Core Economic Concepts

  • Scarcity: Limited resources but unlimited wants (e.g., not enough water during a drought).

  • Opportunity Cost: The next best alternative given up when making a choice (e.g., studying instead of watching Netflix).

  • Supply and Demand:

    • Supply: How much producers are willing to sell at different prices.

    • Demand: How much consumers are willing to buy at different prices.

    • Law of Demand: As price increases, demand decreases (and vice versa).

  • Markets: Places where buyers and sellers exchange goods and services (physical or online).

  • Needs vs. Wants:

    • Needs: Essential for survival (food, water, shelter).

    • Wants: Non-essential items that improve quality of life (games, luxury clothes).

  • Why We Can’t Just Print Money: Printing excess money causes inflation (prices rise). Extreme cases lead to hyperinflation (e.g., Zimbabwe, Venezuela).

Factors of Production

  1. Land: Natural resources (oil, water, soil).

  2. Labor: Human work/effort used in production.

  3. Capital: Man-made tools, machines, and buildings used to produce goods and services.

  4. Entrepreneurship: People who take risks and organize other factors to create businesses.

Goods and Services

  • Goods: Tangible items you can touch and buy (phones, shoes, books).

  • Services: Intangible actions performed for others (tutoring, transport, healthcare).

Roles in the Economy

  • Consumers: People who buy and use goods and services.

  • Producers: People or companies that create and sell goods and services.

  • Entrepreneurs: Individuals who use land, labor, and capital to start new businesses and aim to make profit.

Business Studies

Entrepreneurship

  • Entrepreneurs run businesses and take calculated risks.

  • Key traits: communicator, planner, team player, leader, risk-tolerant.

Business Objectives

  • Profit, growth, survival, social impact, environmental goals

CSR (Corporate Social Responsibility)

  • Acting ethically to benefit society.

  • Examples:

    • Reducing pollution

    • Donating to charity

    • Paying fair wages

Ethics & Ethical Objectives

  • Ethical Objectives: Moral goals like fair treatment, honest advertising

  • Ethical Dilemma: Conflicting values (e.g., Profits vs. sustainability)

Business Plans

  • Includes vision, mission, marketing, operations, and finances

Market Research

  • Primary Research: New data (e.g., surveys, interviews)

  • Secondary Research: Existing data (e.g., reports, articles)

Marketing: 7Ps

  1. Product – What’s being sold

  2. Price – What customers pay

  3. Place – Where it’s sold

  4. Promotion – Ads, discounts

  5. People – Service providers

  6. Process – How the product is delivered

  7. Physical Evidence – Packaging, branding, booth design

USP (Unique Selling Proposition)

  • What makes your product/service stand out (e.g., “Eco-friendly,” “Best price in town”)

Supply Chain

  • Process from raw materials to the finished product reaching the customer.

  • Includes suppliers, warehouses, and retailers

Global Perspectives

Key Concepts

  • Fact: Proven true (e.g., water freezes at 0°C0°C)

  • Opinion: Personal belief (e.g., summer is better than winter)

  • Value Judgment: Based on ethics (e.g., it is wrong to pollute)

  • Prediction: Guess about the future (e.g., sea levels will rise)

Levels of Perspectives

  • Global: Affects the world (e.g., climate change)

  • National: Country-level (e.g., education laws)

  • Local: Community issues (e.g., garbage collection)

  • Personal: Individual impact (e.g., family health)

Analyzing World Issues

  • Use this framework to explore issues:

    1. Causes – What created the problem?

    2. Problem – What is the issue?

    3. Consequences – What are the effects?

    4. Solutions – How can it be solved?

Critical Thinking & Global Issues

  • Evaluate issues from multiple perspectives (e.g., war, poverty, human rights)

  • Ask: Who is affected? Why? What can be done?

Extra Info (Exam Tips)

  • The exam will consist of multiple-choice questions, short-answer questions, and possibly essay questions.

  • Be prepared to demonstrate your understanding of key concepts, terms, and analytical skills in each subject area.

  • Allocate your time wisely during the exam to ensure you can complete all sections thoroughly.