Economy of Australia.

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Presentation transcript:

Economy of Australia

Australia’s economic system Mixed Economy

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

Half of Australia’s exports go to Asia 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

What percentage of the land is arable (capable of being farmed?) 6% Land Use What percentage of the land is arable (capable of being farmed?) 6%

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? 4.4% Australia does not officially count the poverty level within their country.

GDP $766.8 billion (2007) GDP per capita: what is the value of goods and services produced per person? $37,500