1. Economy of Australia

2. 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?...

3. Australia’s economic system Mixed Economy

4. 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. 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