Geography
What feature is a mountain range in Australia?
A. Coral Sea
B. Great Dividing Range
C. Indian Ocean
D. Pacific Ocean
B. Great Dividing Range
Why is China the MOST important trade partner for Australia?
A. It has the most natural resources for trading.
B. It is closer to Australia than any other country.
C. Australia is a tourist spot for China because of its beaches.
D. It provides Australia with affordable goods in exchange for natural resources.
D. It provides Australia with affordable goods in exchange for natural resources.
How does Australia primarily address the three fundamental economic questions?
A. Through market forces of supply and demand.
B. Through government-set production quotas.
C. Through local community farming and bartering.
D. Through indigenous customs and traditions.
A. Through market forces of supply and demand.
Which TWO statements describe the role of entrepreneurship in Australia's economy?
A. Entrepreneurs drive innovation and job creation.
B. A skilled workforce supports new businesses.
C. Australia is a global leader in entrepreneurial activity.
D. Australia's culture encourages business risk-taking.
E. New technology businesses boost economic growth.
A. Entrepreneurs drive innovation and job creation.
B. A skilled workforce supports new businesses.
What feature is located toward central Australia?
A. Brisbane
B. Great Dividing Range
C. Great Victoria Desert
D. Uluru/Ayers Rock
D. Uluru/Ayers Rock
How does specialization benefit Australia's trade with China?
A. It allows them to trade exclusively with each other.
B. Australia's specialization in coal and iron supports China's industries.
C. Australia can rely solely on China for consumer goods.
D. Australia's abundant resources reduce the need for imports.
B. Australia's specialization in coal and iron supports China's industries.
Why are modern economic systems considered mixed economies?
A. They are entirely government-run.
B. They are purely free enterprise.
C. They follow traditional economic practices.
D. They combine elements of different economic systems.
D. They combine elements of different economic systems.
Which industry does Australia specialize in?
A. Mining
B. Oil
C. Technology
D. Timber
A. Mining
Where do most Australians live?
A. In the desert regions of Western and South Australia.
B. In the temperate zones along the coastline.
C. In the diverse climate zones across the continent.
D. In the fertile grasslands of Queensland and New South Wales.
B. In the temperate zones along the coastline.
What is the term for a trade barrier that limits the quantity of imported goods?
A. Embargo
B. Sanction
C. Tariff
D. Quota
D. Quota
How does Australia's literacy rate impact its standard of living?
A. Workers pay for their own training.
B. Businesses don't offer health insurance.
C. High graduation rates lead to fulfilling, well-paying jobs.
D. Most graduates work in the mining industry.
C. High graduation rates lead to fulfilling, well-paying jobs.
Why is Australia considered a market-leaning economic system?
A. Elders make the majority of economic decisions.
B. Individuals make the majority of economic decisions.
C. The government makes the majority of economic decisions.
D. Customs and traditions drive economic decisions.
B. Individuals make the majority of economic decisions.
What is Australia's most important natural resource?
A. Factories
B. Timber
C. Roads
D. Arable land
D. Arable land
In response to animal mistreatment, what type of trade barrier did Australia impose?
A. Blockade
B. Embargo
C. Quota
D. Tariff
B. Embargo
What does the Australian Prime Minister's emphasis on an "education revolution" imply?
A. Investment in capital goods.
B. Investment in human capital.
C. Investment in natural resource development.
D. Investment in market economy development.
B. Investment in human capital.
Imagine four different economic systems:
If you were to place these systems on a scale from most government control to least government control, what would be the correct order?
A. System 1, System 4, System 3, System 2
B. System 2, System 3, System 4, System 1
C. System 1, System 3, System 4, System 2
D. System 2, System 4, System 3, System 1
A. System 1, System 4, System 3, System 2
What role do Australia's natural resources play in its economy?
A. They are crucial for trade.
B. They make Australia an expensive tourist destination.
C. They influenced Australia's official language.
D. They facilitate business startups.
A. They are crucial for trade.
Which country has a mixed economy with open markets?
A. Australia
B. China
C. North Korea
D. Russia
A. Australia
Why is the Australian government increasing investment in renewable energy?
A. To boost GDP through capital goods investment.
B. To boost GDP through human capital investment.
C. To attract skilled workers through human capital investment.
D. To attract tourists through natural resource investment.
A. To boost GDP through capital goods investment.
Which statements are true regarding GDP and machinery investment?
A. Sam is wrong; new machinery won't affect GDP.
B. Sam is correct; new machinery would improve efficiency and boost GDP.
C. Carla is wrong; the investment would boost efficiency and help GDP.
D. Carla is correct; the investment would lead to further decline.
E. Both are wrong; only human capital investment matters.
F. Both are correct; capital goods help initially, but the investment eventually leads to decline.
B. Sam is correct; new machinery would improve efficiency and boost GDP.