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Term 3 HASS MIND MAP - Coggle Diagram

- - - - Waiting for a new job but finishing one first for example voluntary jobs
    - - demand of deficient unemployment example is when business go down because of there products unable to sell enough products
    - - Virtually unemployed for example if your ill or disabled
    - - Occupation that are offered at certain times for example fruit picking
    - - Refers to machine taking over jobs like self serve machines
  - - - Loss of output
      - Koss of income
      - Increased government expenditure
    - - Reflect poorly on the sate and federal government usually a sign tat the government is not doing a good job
    - - Loss of confidence
      - Lower Standard living
- - - - Cost push
        
        When rising production costs are passed on to consumers who then have to pay higher prices for final goods and services
      - Demand Pull
        
        When the demand of goods and services increases
    - - is a measure of the average change overtime in the prices paid by urban consumers for a market basket of consumer goods and services
  - - - Gross Domestic Product it measures the total value of a market in a country
  - - - Higher living standards for everyone
      - Better infrastructure
      - Material Welfare
    - - Structural unemployment will increase
      - Environmental issues land will be destroyed
      - Inflation rate would go up
- - - - Material is the physical object that makes us happy and non material is intangible and not physical
        
        Example of material is gold, iron and Jewelry and non material is freedom of speech
  - - - How much you earn determines how much you can buy to make yourself satisfied
- - - - The government managing the budget for the whole australia
      - A balanced budget: government revenue is exactly equal to expenditure
    - - The interest rates if it goes up or down
      - If interest rates change peoples life can be changed
  - - - Trade liberalisation
        
        Opening markets for free trade so countries can trade without restrictions
        
        Tariffs a tax on a imported goods.
      - Deregulation
        
        the removal of government rules in a certain area of the economy
        
        Example wool growers were once guaranteed a minimum price now it was abandoned
      - Labour market reform
        
        The wages
  - - - The main people who get in are people who will contribute to the economy
    - - More people would have a job which leads to a higher living standard :check:
      - Taking out jobs less jobs will be available :red_cross: