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Check your learning 17.3 (City of Oakland)

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© Oxford University Press 2016 1
Oxford Big Ideas Humanities 9 Victorian Curriculum Teacher obook assess ISBN 9780190307462
Permission has been granted for this page to be photocopied within the purchasing institution only.
Student book questions
17.3 Participants in the Australian economy
Pages 452–455
Check your learning 17.3
Remember and understand
1 Imagine you set up a hairdressing salon.
a What service are you providing for the consumer?
b What does the consumer give you in return for cutting their hair?
c List some of the costs you incur as the owner of your hairdressing salon.
d In what ways does the government affect your hairdressing business?
e Why might you need the services of a financial institution such as a bank in running your
business?
© Oxford University Press 2016 2
Oxford Big Ideas Humanities 9 Victorian Curriculum Teacher obook assess ISBN 9780190307462
Permission has been granted for this page to be photocopied within the purchasing institution only.
2 List the economic consequences of opening up a new restaurant in your area.
3 Explain what happens to the price of exports when the Australian dollar rises.
4 Explain why Australia is part of the global economy.
Apply and analyse
5 In 2014 ALCOA (a metals and engineering company operating in 31 countries) closed its Point Henry
aluminium smelter and two rolling mills. List the economic consequences of this decision in relation to:
a employment
b taxes
c government payments, such as unemployment benefits.
© Oxford University Press 2016 3
Oxford Big Ideas Humanities 9 Victorian Curriculum Teacher obook assess ISBN 9780190307462
Permission has been granted for this page to be photocopied within the purchasing institution only.
6 List five businesses that sell their products or services worldwide.
7 Would companies such as Milan Direct and Shoes of Prey have been successful if they had not sold
their products overseas? Why/why not?
8 Take a few minutes to daydream.
a If you were going into business, what product or service would you be most interested in selling?
b Is there an international market for your product or service?
c How will your product or service stand out from other products on the market?
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Completed 28 April 2021

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