Lesson 2 - Markets
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Starter question: (Please write in workbook)
Food, clothing and shelter are usually included as our basic needs as human beings. In what circumstances might each of these be seen as wants rather than needs? (Think about the type of food, clothing or shelter) |
Aim: (Please write in workbook)
To explore the types of markets in Australia
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At the completion of this lesson, students should be able to:
- Define the word market - List and define the 4 types of markets in Australia: Labour Market, , Housing Market, Stock Market, Foreign Exchange Market - Name the economic groups involved in the markets |
Page 314 of your student text
Read pages 314-315 of your student text
Complete the following questions in your workbook
1 What is a market?
2 What is exchanged on the labour market?
3 What is a landlord and how do they earn income from houses?
4 Why do you think the government focuses on creating jobs for Australians?
5 How do you think not having a job would affect the way a person lives?
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Early finisher? Try this!
Extension 1
Use the Internet to conduct the following research about a house in your area:
1. Visit realestate.com.au via this link, and find a house that is for sale in your area.
2. Visit the Commonwealth Bank’s home loan calculator online via this link and calculate how much interest you would have to pay on a 30-year loan to purchase that house.
Extension 2
Create a set of flashcards to test your knowledge on the four types of markets and the different sectors in the marketplace
Extension 1
Use the Internet to conduct the following research about a house in your area:
1. Visit realestate.com.au via this link, and find a house that is for sale in your area.
2. Visit the Commonwealth Bank’s home loan calculator online via this link and calculate how much interest you would have to pay on a 30-year loan to purchase that house.
Extension 2
Create a set of flashcards to test your knowledge on the four types of markets and the different sectors in the marketplace
| flashcard_template.docx |
