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Practice Questions

Unit 1
Explain the concept of "price elasticity of demand" and describe an example of a good or service that is relatively inelastic, stating why. 
Imagine the market price for a good with elastic demand experiences a sigificant increase. Explain why this may not have a notable income on households.

Unit 3
Explain the four aspects of Michael Porter's theory of competitive advantage, providing an example of two of these aspects. 

The Future is Human | UQ PD

The University of Queensland is putting on an exciting opportunity to explore the ongoing importance of the humanities in shaping well-rounded, culturally adaptable students in an AI-driven world.

From UQ
This one day event will focus on the importance of the Humanities and the Arts in an age of Artificial Intelligence, highlighting the intersection of religion, English, history, language, music, and the arts. We’ll discuss how these subjects enhance critical thinking, cultural intelligence, and adaptability in an AI-driven future. Participants will explore barriers and enablers of students’ learning experiences, reinforcing the message that even in an age of AI, the future is human.

Event: The Future is Human
Date: Thursday 23 January 2025
Travelling to join us? Why not look into our discounted accommodation partner: Essence Suites Taringa

• 15% discount valid for stays on 22nd and 23rd January 2025.
• Use code: FutureHuman for our special rate.

WInners of Tax, Super + You Competition | ATO

Each year the ATO runs the "Tax, Super + You" Competition challenging students demonstrate creative ways to explain Australian taxes and/or superannuation. There were no Queensland winners this year, so perhaps this may serve as an indirect bit of motivation for Queensland teachers who may have students that are hyper engaged and would love to flex their creative muscles. The ATO has uploaded the very impressive winning entries for perusal.