1. Economy of Australia

2. Australia’s economic system
Mixed Economy

3. 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

4. Half of Australia’s exports go to Asia
Trading partners
Japan
Singapore
China
USA
Germany
Half of Australia’s exports go to Asia

5. Natural Resources
What is available?
Timber, lead, zinc, uranium, oil, gold, copper, diamonds, wheat, grapes

6. 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%

7. 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

8. Exports Minerals Wool (produces 25% of the worlds wool) Wheat Meat
wine

9. Imports
Machinery
Computers
Crude oil
Petroleum

10. Literacy Rate
Australia has one of the best education systems in the world
Rate: 99%
You must attend school until at least age 15

11. Unemployment What percentage of people do not have jobs? 4.4%
Australia does not officially count the poverty level within their country.

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