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» Australia’s economy is a MIXED economic system. » Individuals are free to choose what and how to produce » Very little government involvement / regulations.

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Presentation on theme: "» Australia’s economy is a MIXED economic system. » Individuals are free to choose what and how to produce » Very little government involvement / regulations."— Presentation transcript:

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2 » Australia’s economy is a MIXED economic system. » Individuals are free to choose what and how to produce » Very little government involvement / regulations.

3 » Arable land for crops and grazing animals. » Minerals – major export – coal, iron ore, copper, tin, gold, silver » World’s #1 exporter of WOOL

4 » Australia invests heavily in human capital. » Children are required to attend school from ages 6 to 18. » Literacy rate is nearly 100%

5 » To increase GPD, countries must invest in capital goods. » Australia’s businesses use advanced technology to help companies run more efficiently.

6 » Australia is a world leader in entrepreneurship. » One in twelve adults own their own business.

7 » Australia has tried to encourage trade with other countries so that their products can be sold around the world. » Very few trade barriers in Australia » In a good location to trade with Asian countries.


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