YEAR 7 MIND MAPS

Graph of different pays

week 1 - 2

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Scarcity

The state of being in a scares situation or in short supply

Water scarcity, labour scarcity and education scarcity

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Specialism and trade

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Independence

a fact or a state of being independent

self reliance and self direction

limit orders cannot be filled with market orders

financial markets and auction markets

Six consepts of of economics and buisness

Economic Performance and Living Standards

Labour

By goods and services that helps us produce and bring consumers to us

Allocation and markets

bids and contracts

agreements in competitors divide markets among themselves

Making choice

the power or opportunity to make a decision

problem solving, leadership and intuition

Difference in income of jobs

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Producers and Consumers

Socially responsible Consumers

usage and disposition

desire to minimize or eliminate any harmful effects

Consumers

primary and secondary consumers

a person who purchases goods and services for their own use

Producers

Plants and toys

A person, company or country that makes or grows and supplys a good range of items

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Goods + Services

the action of helping someone or doing work for someone

to be desired or approved of to purchase

Factors of Production

the 4 factors

an ecomonic term that describes the imputs in goods and services

labor - involves any human imput

in the form of money or other assets owned by a person or available for a purpose such as starting a company or investing.

social capital and human capital

setting up a business or businesses, taking on financial in the hope of profit.

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Physical place where economic activity takes place

mineral deposits and fish stocks

work, physical work

health care and manufacturing care

Premium

Services

Goods

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If the price is to high no one will buy that product and if its way to low you wont get the profit of from that one product

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Unleaded petrol and designer clothes

An amount to be paid for a contract or insurance

Physiology

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cell physiology and system physiology

branch of physiology that deals with fuctions

Pentration

adjusting price and improved goods and services

an action or process of penetrating something

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Cost + margin

Unit margin and gross margin

difference between selling price and cost

Economic

Pricing, Production and Goverment

relating to economics or the economy

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Non-material and material

Material

Non-material

Week 5

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types of work people can do

Part time + casual

two types of job classifications, offered by many companies, usually for college students or graduates

portion of a regular time and doesn't commit to all work

Voluntary

Charity's and helping poor people

A person who works but doesn't get money

Work from home

modern work approach enabled through internet and mobiles

broadband internet access, a computer, a dedicated work phone number, and a webcam.

Interships

position of a student or trainee, sometimes without pay, in order to gain work experience

impending feelings and goals

Full time

occupying or using the whole of the usual working day or week.

Software Engineer and Database Architect

Test 1 Economic choises

Contract

written or spoken agreement for sales and taxes

ownership and title

Something you do for financial reasons

company car, cash bonus and houses

Something you do for fun

Good-will, friendship, new skills and creativity

Assessment task business idea

Our idea was to make a toy company called "toybia"

Our group did alright, our group didn't finish the power point we just really needed to be a bit more organized

Poster project on biography of in entrepreneur

3 successful entreprenurs

Bill gates

Michael Bloomberg

Oprah Winfrey

work on group project

a person who sets up a business or businesses, taking on financial risks in the hope of profit.

What are characteristics of entrepreneurs

Planning

Making Mistakes

Empathy

Listening Carefully

Fairness

Week 7

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presenting group project

I think our presentation was good cause we have a great company and good products and how we were going to plan it out

i think our presentation could've been better if we organized a bit better, it was just a complete mess in my opinion

we all worked as a team and gave all of our full 100 % focus to everybodys ideas

I think we need to improve out organized a bit better again especially with the power point

Week 8

I did Sundar Pichai

Sundar Pichai created google

Week 9

graph

Why are they payed differently?

Graph of different pays

Hours worked

Responsibility and stress

Education level

Dangerous jobs

refers to the years of formal instruction received and successfully completed

GED or high school diploma

time during which an employee is subject to the control

rostered overtime

You can't control everything in your work environment, but that doesn't mean you're powerless

long hours, heavy workload and tight deadlines

defined as a job that exposes a person to risks that can cause harm, damage, or injury

Logging workers.
Fishers and related fishing workers

Week 3

Services