My Economy Trip

“The quickest way to double your money is to fold it over and put it in your pocket” 
- ​Will Rogers 
 
Financial  literacy  is  understanding  how  money  works,  how  a  company/person  makes  money, 
manages  it  and  what  they  use  the  money  for.  It’s  knowing  how  much  to  spend  and  how  much  to 
save.  Finance  can  also  be  used  for  big  companies  or  the  government,  to  manage  large  amounts  of 
money as it is distributed to different departments and ministries. 
 
Restaurants  contribute  towards  the  local  economy  because  they  buy  locally produced food from the 
fresh  local  markets,  which  helps  the  markets  to  buy  the  seeds  they  need  to  plant,  to  pay  rent,  pay 
tax,  etc.  Restaurants  like  the Ming Du Restaurant uses the money they make to pay their employees, 
renovate  the  building,  buy  more  decorations  for  the  restaurant  and  most  importantly  to  buy  the 
ingredients  for  their  food.  If  a  restaurant  is  in  a  building  that  they don’t own, then they have to pay 
rent  which  also  helps  our  local  economy.  If  restaurants  keep  paying  their  rent  than  the  building  the 
restaurant  is  in  can  be  renovated,  which  means  bigger  space,  more  people,  and  more  money. 
Restaurants  also  help  our  local  economy  by  paying  taxes,  the  tax  is  used  for  the  country’s 
infrastructure such as building hospitals, better roads, footpaths, etc.  
 
 
 
 
 
 
 
 
 
The  fisherman’s  catch  the  fish,  and  then  they  take  it  to  the  fish  market  where  they  or  the  vendors 
sell  it.  When  they  get  their  money  they  pay  for  their  stall’s  rent  to  the  Suva  City  Council,  they  also 
pay  for  their  taxes  to  the  government  and  the  government  uses  it  for  the  country’s infrastructure. 
They  vendors  also  use  some  of  their  money  for  the  tools  they  need  to  catch  the  fish,  as  well  as  to 
buy  food  for  their family, and the things they need. There are also indoor markets where people sell a 
variety  of  food  and  things  such  as  spices,  fruits,  vegetables,  flowers,  Fijian tobacco(suki), kava and 
crafted  work.  If  there  is  a  cyclone  in  Fiji and their produce is destroyed, the prices of the produce will 
rise  because  their  are  hardly  any  of  the  produce  left  (it  has  become  a  scarce)and  they  need  the 
money.  In  the  markets  not  only  farmers,  vendors  and  middlemen  work  ,there  are  also wheelbarrow 
men who are paid about $1 to help customers take their produce to their car, taxi, bus, etc. 
 
 
 
 
 
 
 
 
 
 
Many  businesses  have  shares  on  the  stock  exchange,  when  investors  buy  a  share  they  invest their 
money  into  a  company.  The  company  gets  the  money  and  they  use  it  to  develop  their  company  by 
buying  better  equipment,  employing  more  staff,  expanding  their  building,  building  more  of  their 
buildings  in  other  places,  etc.  18,  899  investors  that  invest  with  SPSE  are  Fijian  residents  and  635 
investors are expatriates. 
 
 
 
The  Westpac  bank  helps  our  economy  by  giving  people  loans,  keeping  our  money 
safe,  helping  us  pay  our  debts,  keeping  important  stuff  of  ours  safe  like  jewelry, 
gold,  diamonds,  important  files,  in  safe  deposit  boxes.  You can use different ways 
to  get  your  money  and  to  pay  for  their  needs  and  wants.  We can use credit cards, 
ATM  machines,  cash  and  direct  debit.  The  Westpac  bank  gets  most  of  their  money  from  loan 
repayments.  When  the  bank  gets  their  money  they  do  not  put  the money in the vault, but keep it in 
the  bank,  until  somebody  needs  a  loan.  When  a  person  needs  a  loan  they  use  somebody  else’s 
money,  but  they  make  sure  that  they  get  more  money  so  the person can have the same amount. At 
the  end  of  everyday  the  bank  counts  the  money  they  have  earned,  and  how much they have in their 
system. 
 
Our  economy  excursion  was  really  fun.  It  was  nice  learning  about  what  people  do  with  their money, 
now  I  understand  more  about  what  a  stock  market  is.  The  bank  was  also  interesting  because  I  did 
not  know  that  we have Internet banking and safety deposit boxes. I also learnt that people don’t pay 
their  taxes  at  the  bank,  they  pay  it  to  the  government.  Also  learning  about  the  fish  and  the  fish 
market  with  Mr.Stice  was  awesome.  I  think  it was a great experience for all of us to actually see how 
the  economy works up close.  People should learn about financial literacy because, it is important and 
if  they  did  not  learn  about  financial  literacy  how  would  they  learn  how  to  handle  large  amount  of 
money. 
 
 
Bibliography: 
● Mom 
● My economy excursion (Week 6 Tuesday- 27th / Feb/ 2018) 
 Year 6 – Social Science Assessment (Term 1 2018) Economy Reflection

Category 5 4
Global Connections
Note taking and Demonstrates thorough
development of knowledge and there is accurate
tasks on local and research using a variety of
global issues that information sources. Has
affect the economy recorded and interpreted
significant facts, and evaluated
points of view.
Evaluate the factors The content is written clearly
that help an and concisely with a logical
economy to grow. progression of ideas and
supporting information.
The reflection includes a
detailed explanation that shows
a balance between research and
experiences from the excursion.
Communicate the Demonstrates use of creative
results of inquiry thinking processes with a high
using appropriate degree of effectiveness.
terms and concepts Consistently uses appropriate
subject terminology throughout
the reflection.
Organisation, Information is very organized
amount and quality with well-constructed
of information paragraphs. All topics are
addressed and all questions
answered with at least 2
sentences about each.
Information clearly relates to the
main topic. It includes several
supporting details and/or
examples.
Student: Adi Tuivucilevu Vuniwaqa
Demonstrates considerable
knowledge and there is accurate
research using a variety of
information sources. Has
recorded and interpreted
significant facts, and evaluated
points of view.
Uses the writing process with
considerable competence. The
reflection includes an
explanation that shows a
balance between research and
experiences from the excursion.
Demonstrates use of creative
thinking processes with a degree
of effectiveness. Uses more than
4 appropriate subject
terminology throughout the
reflection.
Information is organized with
well-constructed paragraphs. All
topics are addressed and most
questions answered with at least
2 sentences about each.
Information clearly relates to the
main topic. It provides 1-2
supporting details and/or
examples.
3 2
Demonstrates some
knowledge and research using
a variety of information
sources. Has recorded and
interpreted some facts, and
evaluated points of view.
Uses the writing process with
some competence. The
reflection includes an
explanation with some
reference to research and
experiences from the
excursion.
Demonstrates use of creative
thinking processes. Uses 3 or
4 appropriate subject specific
terminology.
Information is organized, but
paragraphs are not well-
constructed. All topics are
addressed, and most
questions answered with 1
sentence about each.
Information clearly relates to
the main topic. No details
and/or examples are given.
Demonstrates very limited
knowledge and research
using a variety of information
sources. Has recorded some
facts and points of view.
Uses the writing process
with limited competence.
The reflection includes an
explanation with limited
reference to research and
experiences from the
excursion.
Demonstrates use of
thinking processes. Uses 1
or 2 subject specific
terminology.
Information is disorganized.
More than two topics are
addressed, and most
questions answered with 1
sentence about each.
Information relates to the
main topic. No details and/or
examples are given.
1 Score
Demonstrates no knowledge
and there is a lack of 4
research. Has recorded very
little facts or points of view.
Uses the writing process
with very limited 3.5
competence. The reflection
includes an explanation with
little to no reference to
research and experiences
from the excursion.
Does not demonstrate use
of thinking processes. Does 3.5
not use appropriate subject
specific terminology.
The information appears to
be disorganized. One or two 4
topics were not addressed.
Information has little or
nothing to do with the main
topic.
Total 15
/20

Comments: Adi, thank you for your hard work. You have explained how the venues we visited on our excursion impacts upon the economy. You have demonstrated creative thinking skills
and it is clear to see that in some of your writing you are demonstrating an ability to critically discuss your findings in conjunction with evidence from your own research. Whilst you have
demonstrated confidence in your ability to follow the writing process and have organised your writing in a logical sequence, you will need to work on aspects of your sentence structures, as
well as written mechanics, next time around.