Mr T's Year 8 Economics class by John Themistocleous https://padlet.com/j_themist/mrt1 Please add two points about economics we have learned this term. (Don't forget to include your name) en-us 2015-05-09 03:45:19 UTC 2015-08-18 07:27:33 UTC hello@padlet.com https://padlet-assets.storage.googleapis.com/portrait/monkey.jpg Hedy and Lin https://padlet.com/j_themist/mrt1/wish/61211438 Public goods include:

-Education

-Transport

-Health

-Utilities

-Law Enforcement

-Emergency services

]]> 2015-05-21 04:23:55 UTC https://padlet.com/j_themist/mrt1/wish/61211438 Oscar And Jordan https://padlet.com/j_themist/mrt1/wish/61211450 Australia has progressive taxation system.

]]> 2015-05-21 04:24:05 UTC https://padlet.com/j_themist/mrt1/wish/61211450 Nepaa & Merryberry https://padlet.com/j_themist/mrt1/wish/61211472 A good is an item that can be produced

and sold. A service is where a person

does something for you.

]]> 2015-05-21 04:24:24 UTC https://padlet.com/j_themist/mrt1/wish/61211472 Dieu and Sarah https://padlet.com/j_themist/mrt1/wish/61211492 Why does the government provide public goods?

-They are considered essential to a modern society.

-To improve living standards

-To protect the most disadvantaged

]]> 2015-05-21 04:24:50 UTC https://padlet.com/j_themist/mrt1/wish/61211492 Lisa & Chanel https://padlet.com/j_themist/mrt1/wish/61211619 3 reasons why the government intervenes in the economy. - to provide public goods, equal distribution of wealth and to try and avoid depressions and high inflations

]]> 2015-05-21 04:26:27 UTC https://padlet.com/j_themist/mrt1/wish/61211619 Ben & Ben https://padlet.com/j_themist/mrt1/wish/61211767 Public goods are things like education and transport like trains.

]]> 2015-05-21 04:28:37 UTC https://padlet.com/j_themist/mrt1/wish/61211767 Ya and Syahmi https://padlet.com/j_themist/mrt1/wish/61211812 Economics is the study of how individuals and companies use scarce resources to fulfill peoples wants and needs

]]> 2015-05-21 04:29:11 UTC https://padlet.com/j_themist/mrt1/wish/61211812 Lisa and Chanel https://padlet.com/j_themist/mrt1/wish/61211827

Economics is best defined as the study of how wealth is created and distributed throughout a country. It also looks at how the individual and societies makes decisions about the way to use scarce resources to fulfill needs and wants .

]]> 2015-05-21 04:29:25 UTC https://padlet.com/j_themist/mrt1/wish/61211827 Lin and Hedy https://padlet.com/j_themist/mrt1/wish/61211858 The 4 factors of production are

Labour, land, capital and

Enterprise

]]> 2015-05-21 04:29:49 UTC https://padlet.com/j_themist/mrt1/wish/61211858 Oscar and Jordan https://padlet.com/j_themist/mrt1/wish/61211944 How to produce, What to Produce, For whom to produce.

]]> 2015-05-21 04:31:49 UTC https://padlet.com/j_themist/mrt1/wish/61211944 conner and john https://padlet.com/j_themist/mrt1/wish/61211979 we have learned about land labour enterprise and capital

]]> 2015-05-21 04:32:29 UTC https://padlet.com/j_themist/mrt1/wish/61211979 Seraphina and Rachael https://padlet.com/j_themist/mrt1/wish/61212070 -goods are tangible, you can touch it.

-services is work that is performed for others

]]> 2015-05-21 04:33:46 UTC https://padlet.com/j_themist/mrt1/wish/61212070 Rachael and Seraphina https://padlet.com/j_themist/mrt1/wish/61212300 Wants are unlimited. Needs are not unlimited

]]> 2015-05-21 04:37:07 UTC https://padlet.com/j_themist/mrt1/wish/61212300 Rachael and Seraphina https://padlet.com/j_themist/mrt1/wish/61212530 Producers are people that own companies that makes goods and/or services

]]> 2015-05-21 04:40:24 UTC https://padlet.com/j_themist/mrt1/wish/61212530 Hedy and Lin https://padlet.com/j_themist/mrt1/wish/61212641 Exports are when goods and services leave the country.

Imports are when goods and services enter the country.

]]> 2015-05-21 04:41:29 UTC https://padlet.com/j_themist/mrt1/wish/61212641 Oscar and Jordan https://padlet.com/j_themist/mrt1/wish/61212955 A Capital good is used to make other Goods

]]> 2015-05-21 04:46:11 UTC https://padlet.com/j_themist/mrt1/wish/61212955 Lin and Hedy https://padlet.com/j_themist/mrt1/wish/61212981 ]]> 2015-05-21 04:46:41 UTC https://padlet.com/j_themist/mrt1/wish/61212981