1 Imagine you set up a hairdressing salon a What service are you providing for the consumer?
b What does the consumer give you in return for cutting their hair?
c List some of the costs you incur as the owner of your hairdressing salon.
d In what ways does the government affect your hairdressing business?

2. List the economic consequences of opening up a new restaurant in your area.
3. Explain what happens to the price of exports when the Australian dollar rises.
4. Explain why Australia is part of the global economy.