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Economic Systems
Australia Economy
Types of Government
Australia Government
Economic Growth
100
Australia’s early Aborigines made economic decisions based on customs or beliefs. This would be an example of a
What is traditional economy
100
Australian Aborigines used this type of economic systems
What is traditional
100

What type of government is ruled by one person, usually the child of the previous ruler?

What is Monarchy?

100

Australia is an example of a ___ democracy. 

What is Parliamentary

100
A natural resource is
What is something found in nature
200
Economy where the government makes the economic decisions.
What is command
200
What is an important role of entrepreneurs in the Australian economy?
What is They provide new jobs for Australian workers
200

What is a type of government in which all eligible members are able to vote on key issues and/or for elected representatives?

What is Democracy

200

Australian citizens do not vote directly for ___

What is Prime Minister
200
Australia’s businesses use advanced technology and up-to-date machinery. This is an example of investment in
What is capital resources or capital goods
300
• The government has laws to protect private property owners . • Courts enforce laws to protect consumers and businesses. • Prices for goods and services are based on what consumers agree to pay. • The government has few trade barriers such as tariffs and quotas.
What is mixed economy
300

In Australia, _______ is the main factor that determines what is produced

What is Supply and Demand

300

Citizens vote to elect the leader directly.

What is Presidential Democracy

300

This person represents the Queen's interest in Australia.

What is Governor General?

300
Three Australians began a company selling diamond earrings. They bought a small warehouse as the place to start the business. They purchased diamonds and gold from local mines. They hired artists to create new and original designs. The artists hired to create the designs are examples of
What is human capital
400
In a traditional economic system people usually exchange goods or services rather than use money. What is this called?
What is bartering
400
Describe Australia's economy
What is one of the freest economies in the world
400

Citizens only vote for members of the legislature, who then select the Prime Minister

What is Parliamentary Democracy

400

The Prime Minister is the true executive leader of the nation, also known as the ___ Executive

What is Chief?

400
Australia has a very high GDP and a high standard of living. -The government provides schooling for all children. -The workforce is very well trained and educated. -The health care system is Australia is very good. These are all examples of investment in:
What is human capital
500
A market economy is very different from a command economy. What is found in a market economy that is not found a command economy?
What is competition or entrepreneurship
500

On a Continuum, where would Australia be placed?

What is close to the Pure Market Economy
500

Explain the difference between Parliamentary and Presidential Democracy

What is Presidential- citizens directly elect leader

Parliamentary- citizens elect members of legislature to then select leader 

500

Australia's political arrangement traces back to Australia's former status as a ___ colony.

What is British
500
The Prime Minister of Australia is on T.V. He is explaining a plan for improving the Australian economy. In his speech, the Prime Minister says: “Our economy is too dependent on imports of oil from foreign countries! My plan for energy independence will focus on using sources of energy we already have here in Australia – including oil and natural gas, wind, and solar power. We will spend government money for research and building of new facilities to better use our resources.” This is an example of investment in
What is capital goods or capital resources