IEL EXAM REVISION

• Crime


  An act or omission that is punishable by law
• Parties in a criminal case

  • Prosecution
  • Accused
• Parties in a civil case

  • Plaintiff
  • Defendant
• Two Elements involved in every crime

  • Actus reus (action)
  • Mens rea (intent)
• Strict Liability


  Legal responsibility without proving intent, crimes that do not have mens rea (speeding, myki infringement)
• Burden of Proof


  • Prosecution (Criminal Law)
  • Plaintiff (Civil Law)
• Standard of proof


  • Beyond reasonable doubt (criminal law)
  • Balance of probabilities (civil law)
• Summary offences and indictable offences

  • Summary offences: Less serious crimes tried summarily (speeding, vandalism, drink driving) heard in the magistrates' court
  • Indictable offences: Serious crimes heard in the Supreme (Murder, Manslaughter, treason) and county court (arson, sexual offences)
• Doli incapax


  The presumption that a child is incapable of committing a crime/evil
• Principal offender and accessory to the crime

  • Principle offender: Commits the crime directly, encourages, plans
  • Accessory to the crime: Aids, abets, or assists in the crime
• Six elements of Murder

  • Unlawful Killing
  • Human Being
  • Over the Age of criminal responsibility
  • Sound Mind
  • Causation
  • Malice Aforethought (Intent to Kill, Intent to cause GBH or reckless)
• Defences to murder


  • Self-defence
  • Mental impairment (not of sound mine)
  • Sudden or extraordinary emergency
  • Automatism
  • Intoxication (if not self induced)
  • Accident
  • Duress
• Manslaughter


  Lacks malice aforethought. The mens rea for Manslaughter is the (intent to cause injury, acting illegally or dangerously or criminal negligence)
• Criminal sanctions


  • Imprisonment
  • Fine
  • CCO
• Five purposes of sanctions

  • Protect
  • Punish
  • Deter
  • Rehab
  • Denunciate
• Factors a judge considers for sanctions

  • Severity of crime
  • Criminal history
  • Mitigating (remorse, good prospects of rehab)
  • Aggravating factors (committed in front of a child, no remorse, premeditated)
• Civil Law


  Civil law's purpose is to settle disputes amongst private parties, protect the rights of individuals, and remedy those who have had their rights infringed back to their original position.
• Elements of Negligence


  • Duty of care
  • Breach of duty
  • Causation
  • Damages
• Neighbour principle


  Obligation to avoid acts that could harm others
• Who has a duty of care

  • A person who knows or should know that their actions may cause harm to another who is not able to protect their interests.
• Exceptions to duty of care

  • Volunteer
  • Good samaritan
  • Voluntary assumption of risk
  • Food donation
• Defences to negligence


  • The victim had more negligence than others
  • The victim understands that what they are doing is dangerous
• Civil Law Remedies


  • Damages(Exemplary, Nominal, Compensation: Specific, General, Aggravated)
  • Injunctions (mandatory, restrictive)
  • Order for Specific Performance
• Four types of resources

  • Land
  • Labour
  • Capital
  • Entrepreneurship
• Economic Systems


  • Traditional
  • Market
  • Mixed
  • Planned
• Advantages and disadvantages of each economic system

  • Traditional economy: Advantages - everyone has a set role, no chance of deviating from pattern; Disadvantages - discourages new ideas and new ways of doing things, lower standard of living
  • Planned economy: Advantages - It might be easier to coordinate resources in times of crises, The abuse of monopoly power can be prevented; Disadvantages - Unjustified pricing of goods compared to demand, Limitation of private economic development
  • Mixed economy: Advantages - It might be easier to coordinate resources in times of crises, The abuse of monopoly power can be prevented; Disadvantages - Limited growth for large companies, Taxes support economy and what is best for the general population, Entrepreneurial restraints
  • Market economy: Advantages - Wide variety of goods, competition regulates economy (price goes down, quality goes up); Disadvantages - Monopolies may form as a result of competition in some markets, The distribution of income and wealth is very unequal and the lack of welfare support may lead to people living in absolute poverty
• The three economic questions

  • What to produce?
  • How to produce?
  • For whom to produce?
• Demand


  Consumers buy more of a good when its price decreases and less when its price increases. Inverse relationship between price and quantity demanded
• Factors that can shift the demand curve

  • Income
  • Price of related goods
  • Expectations of future prices
  • Number of buyers
  • Tastes and preferences
• Supply


  Producers offer more of a good as its price increases and less as its price falls
• Factors that shift the supply curve

  • Input/resource prices
  • Technology
  • Taxes
  • Expectations of future prices
  • Number of sellers
• Equilibrium, Shortage, Surplus


  • Surplus: A situation in which quantity supplied is greater than quantity demanded
  • Market Equilibrium: This occurs at the price where the quantity demanded and quantity supplied are equal (also called the market-clearing price)
  • Shortage: Quantity demanded meets quantity supplied
• What things are and aren't included in the GDP

  • Sales of goods/services produced outside our domestic borders
  • Sales of used goods (second-hand markets)
  • Illegal sales of goods and services
  • Transfer payments made by the government (e.g. welfare support)
  • Intermediate goods that are used to produce other final goods
  • Volunteering work
• Limitations of GDP (PIES)

  • Population
  • Inequality
  • Environment
  • Shadow economy
• Aggregate Demand


  The amount of goods and services in the economy that will be purchased at all possible price levels
• Aggregate Supply

  The total amount of goods and services in the economy available at all possible price levels
• Consumer price index (CPI)

  A measure of the overall cost of the goods and services bought by a typical consumer
• Factors that influence AD/AS

  • AD: Taxes (Govt), Wealth, Interest rates, Consumer confidence, Govt spending
  • AS: Interest rates, Natural Disaster, Business Tax, Population growth, Wages
• Economic growth


  An increase in the amount of goods and services produced per head of the population over a period of time.
• Recession


  A slowdown in a nation's economy (two economic downturns in a row)