Economy of australia
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Economy of australia

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Economy of australia Economy of australia Presentation Transcript

  • UNIT 10 Economy of Australia
  • 3 Economic Questions…
    • What to Produce?
      • Businesses decide and government approves
    • How to produce it?
      • Businesses decide and government regulates procedures
    • For whom to produce?
      • Businesses decide based on supply and demand
      • Which economic system does Australia have?...
  • Australia’s economic system
    • Mixed Economy
  • Trading partners
    • Japan
    • Singapore
    • China
    • USA
    • Germany
      • Half of Australia’s exports go to Asia
  • Natural Resources
    • What is available?
      • Timber, lead, zinc, uranium, oil, gold, copper, diamonds, wheat, grapes
  • Land Use
    • What percentage of the land is arable (capable of being farmed?)
      • 6.15%
  • Industries/Entrepreneurs
    • What is being produced in factories?
      • Cars, clothing, food, airplanes, chemicals, paper, sugar
      • Tourism is also a huge money making industry
    • Entrepreneurs within Australia: Farming, Fishing
  • Exports
    • Minerals
    • Wool (produces 25% of the worlds wool)
    • Wheat
    • Meat
    • wine
  • Imports
    • Machinery
    • Computers
    • Crude oil
    • Petroleum
  • Literacy Rate
    • Australia has one of the best education systems in the world
    • Rate: 99%
    • You must attend school until at least age 15
  • Unemployment
    • What percentage of people do not have jobs?
      • 5.1%
      • Australia does not officially count the poverty level within their country.
  • GDP
    • $889.6 billion (2010)
    • GDP per capita: what is the value of goods and services produced per person?
      • $41,300