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HASS Yr9 - Economics - Coggle Diagram

- - - - Food
      - Shelter
      - Clothing
      - Healthcare
  - - - Toys
      - Games
      - Entertainment
      - Jewellery
  - - - Hamburger
      - Football
      - T-shirt
      - Computer
  - - - skills
      - Waiter
      - Hairdresser
      - Football player
- - - - the way an individual, business, or entire country can focus on the production of a particular good or service -> develop a more efficient and competitive production process
    - - unable to produce the goods and services required to support the wants and needs of their population -> import
      - too much goods and services -> export
  - - - financial choices (such as how much money to save, spend or invest)
      - business decisions (such as what to produce or where to sell a product)
      - employment decisions (such as what career path to follow)
      - legal decisions (such as whether or not to take legal action over a faulty product)
  - - - Distributing among people by using the market
    - - Supply and demand sets a price
      - If you can afford it and its available, you buy it
      - market economy often determines how resources will be distributed
      - exchange of goods and services (or resources) among buyers and sellers is referred to as a market
  - - - Economists measure how well an economy is doing by using the factors of economic performance:
        
        Gross Domestic Product (GDP) – the total value of goods and services produced in a country over a year
        
        inflation – the general increase in prices of goods and services
        
        the unemployment rate – the percentage of people who are unemployed out of all people who are able to work
    - - material - access to physical goods and services
      - non-material - harder to measure and include things that may contribute to our happiness, such as freedom, low crime levels, access to facilities or free elections
  - - - Capital – equipment
      - Enterprise – organisation, ideas
      - Land – natural resources, crops/soil
      - Labour – workers
- - - - Use money we earned
      - Use money gained by the app
  - - - It has more than one category of tutorial
      - As well as videos, there are written tutorials for different types of learners
      - No ads
  - - - The best tutorials under one roof
- - - - psychic
        
        The victim may be told that they will be in some sort of danger in the future. To avoid this, they inevitably have to pay money for a lucky charm
        
        Victims are called and told they will be in some sort of danger in the future. The scammer ask for the victim to pay for a "lucky charm" so they will be safe
        
        Gullible people
        
        be suspicious, cautious and patient
      - romance
        
        A scammer takes advantage of someone looking for romance
        
        A scammer makes a fake dating profile, fakes being in love, then asks for money for a visa or money that will help them out of their "financial crisis"
        
        People looking for romance
        
        be suspicious, cautious, patient, alert and wise
      - charity
        
        A scammer poses as a genuine charity and takes advantage of the giver's generosity
        
        A scammer poses as well known charity
        
        They do this by emailing people and asking for a donation
        
        Gullible, older or soft hearted people
        
        be suspicious, cautious and patient
  - - - phishing
        
        A victim replies to an email and pays money
        
        A scammer sends out thousands of emails in the hope someone will reply. The victim replies to the email and is asked to pay an upfront fee to get a lot of money
        
        Gullible people and people who want to become rich quickly
        
        be suspicious, cautious, patient and wise
      - investment
        
        A "rare" opportunity is presented/emailed to a victim
        
        A scammer emails a victim with a fake investment opportunity and says it's a once in a life time investment. The victim replies and sends the scammer money
        
        Gullible people who believe the investment
        
        be cautious, patient and wise
      - skimmer (bank card reader)
        
        A skimmer takes peoples bank details and scammers steal money from the bank accounts
        
        A scammer places a skimmer and a camera on a ATM to read credit card numbers. The scammer takes money from the bank accounts and comes back later to retrieve the skimmer. The scammer then places the skimmer on another ATM and repeats the cycle
        
        Targeted victims?
        
        Be cautious and alert
      - courier
        
        A scammer pretends to be a courier and takes your credit card
        
        A scammer poses as a bank and emails victims saying their credit card has something wrong with it. The scammer says a courier will come pick the victim's card up and they will come back in a few days with a new bank card but never does
        
        Gullible people and older people who don't know how to use technology to check their bank account
        
        Be cautious, patient and alert
  - - - even if you have a trusting nature, be aware that others may not be honest in their dealings with you
    - - don’t give strangers your money, credit card or bank account details. Keep your card in a safe place
    - - Don’t be pressured into doing something quickly. If you’re interested in a deal, get a second independent opinion on what is being offered
    - - Check bank and credit card statements for any unexplained transactions
    - - Understand that there is little chance of getting rich quickly from a business scheme – don’t take short cuts to getting rich
- - - - barter economy
      - swap goods
    - - gov decides
    - - supply and demand
      - decides
    - - more 2 = socialist
      - more 3 = capitalist
      - mix of 2 and 3
  - - - manufacturing
    - - sales and services
    - - extracting natural resources
      - raw materials
        
        agriculture
        
        mining
        
        fishing
    - - research and development