VCE Stuff > VCE Economics
Economics Questions Thread
Water:
Think about this way,
When you think about Material Living Standards
- You Think about, materialistic things, things that are superficial.: your wealth, your house, your dog, your toys, computer etc? . Anything that is materialistic right?
However, when you think about Non-Material Living Standards. You think about things that aren't superficial. Like for instance. To get that 1 million dollar house, what do we have to sacrifice? Long Hours or our health?
Is there Peace in our country?
Pollution Rates?
Environmental Damage?
Unrest? Unhappiness amongst the public?
For the non-material living standards, you look at the non superficial side and our "OVERALL QUALITY OF LIFE"
In terms of relationships; Think of this well. IF you work 16 hours a day to get enormous wealth? What is the trade off? What do you attain for working that long? What do you lose for working that long?
That should answer your question :)
Hodgeyhodgey:
So say the situation is an increase in wealth.
A positive of this is obviously an increase in wealth, general happiness, financial security, availability of goods/services to the person(s), etc and a negative of this may be an increase in family issues, as it may limit time together due to a probable increase in work hours.
Am I on the right track? :S or am I wrong to just be listing the pros/cons of a situation..
Water:
Yeah, because the question asked to offer two examples, didn't it? A situation is the scenario. But the positives and negatives are the examples of the outcome in the relationship. This is just to show, that you have a clear understanding of the concept. Thats how our SACs worked in our school. We would have to give a scenario, then explain etc..etc..
General Happiness is subjective though, you can just say, more purchasing power ;x.
Hodgeyhodgey:
The question asked to give "2 examples of a positive relationship and 2 examples of a negative relationship".
Seeing as I have a *basic* understanding of what's going on, how would I go about answering the question? Preferably, how would you go about answering the question?
Provide 2 scenarios and a positive/negative of each scenario? Thanks :)
Water:
the relationship between material and non-material living standards (quite basic, I know). :/
I need to know two examples each of a positive and negative relationship
lol, I think I gave the wrong answer on how to approach it. Anywayz. Heres how I would do it
Negative Relationship:
Bob is working 17 hours a day as a mechanic in hope to buying a ferrari car in 3 months time. However, this has severely impacted on his relationship with his girlfriend and their coming newborne child. It has also meant that the family has had less time to spent together.
As you can see here : Material Living Standard Goes up (AKA The Ferrari Car) However Non Material Living Standard goes down (The Family Happiness)
Positive relationship:
Jane works a comfortable 10 hours a day. She is a competant worker, and uses her time wisely. After work, she enjoys her hobbies, meet up with friends, and saves money where possible. She also knows after 1 year of working, she'll recieve a promotion.
HEre We See that it is a positive relatiionship. Because the material living standard is relative to the non material living standard. (She has a secure job, and a balanced lifestyle after work).
Hopefully, this is what ur teacher is looking for!
You could also talk about, national picture, like cyclone yasi, where material living and non material living standards has plummeted!
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