Flashcards in Exam Revision Deck (68)
The leader of the commonwealth government.
Members of the government with responsibility for areas of government policies or departments.
Represents the crown at a federal level.
A meeting of senior ministers to advise government policies.
Queen Elizabeth is Australia's head of state and her authority is known as crown.
A geographic area consisting of approximately 80 000 voters who vote for one representative.
Role of Government
Provides security, order, justice, public works., social welfare, economic policy, conservation and development.
Responsibility for Local Government.
Health concerns, health regulation, rubbish disposal, parks and gardens.
Responsibility of the state government.
Education, hospitals, transport, road laws, public works, local government.
Responsibility of the federal government.
Defence, trade, currency, social services, telecommunication, post and immigration.
House of Representatives (lower house)
Determines the government debates, passes laws, watches over government administration and expenditure.
How many seats are in the lower house?
The senate (upper house)
This house cannot introduce laws related to finance and taxation.
Similarities between the two houses.
- both have a presiding officers
- introduce and debate legislation (laws)
How many seats are in the senate?
76, 12 from each state and 2 from each territory.
When individuals vote in order of preference from 1 - 4. The candidate must receive and absolute majority which is 50% + 1 vote.
Changes in a constitution are voted on by the Australian people.
There must be a double majority for the referendum to pass.
Represents the interests of business and private enterprise.
Federal leader - Tony Abbott
Victoria leader - Julie Bishop
The system where the head of state is a monarch (queen) but the real power of government rests on the parliament.
Allocation of scarce resources.
The imbalance between our wants which are unlimited and our resources which are limited.
The loss of other alternatives when one alternative is chosen.
The consumer is king in deciding where resources are allocated in the market economy.
Law of Demand
As the price of an item decreases the quantity of that item demanded will increase
- the cheaper something is the more will buy.
Preferences (changes in taste/ fashion)
Increase price of substitutes
Decrease complementary product
Law of supply
As the price of an item increases, the quantity of that item that will be supplied by produces will increase.
- the more expensive something is the more produces will make.
Cost of raw materials
Efficiency of resources
A situation where potential buyers are in contact with potential sellers and there is a means of exchange.
The 3 economic questions
What to produce?
How to produce?
Whom to produce for.