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Exam Advice

The following document is a brief outline of the topics that you need to study for the exam in June.

The types of questions asked will be similar to those asked in your tests. Please revise your tests and where you went wrong.



Here are a list of possible questions - see if you can answer them.

1. What is opportunity cost? Give an example to explain your answer. 2. What are the 5 main sources of government revenue and the 5 main expenses that the government pays. 3. How will the following events affect the unemployment rate? a) an increase in interest rates b) an increase in the value of the Australian dollar c) a decrease in consumer confidence d) an increase in the rate of economic growth in China and India

4. Explain 3 demand factors that would result in a shift of the demand curve for iPods to the right.

5. Explain what will happen to the equilibirum price and quantity traded for trucks if the following occurred: a) an increase in average weekly earnings b) a decrease in interest rates c) an increase in oil prices

6. What is the difference between demand and cost inflation?

7. How could the government use their annual budget to lower the unemployment rate/

8. What are three factors that will make a law effective?

9. What is the purpose of criminal sanctions?

10. What is the difference between summary and indictable offences?

11. What is the difference between civil and criminal law?

12. What needs to be proven in a case for murder?

13. What are the defences to murder?

14. Explain why the law of copyright exists.

15. What needs to be proven in a defamation case?

16. What is the standard of proof and the burden of proof in a civil and criminal trial?