Show:
Econo How?
Trade What?
On the Barbie
Govern Huh?
Factors of Whom?
100

The Aboriginal People followed the same path as their ancestors. What type of economy is this?

Traditional

100

A country limits the amount of imported beef because they produce their own, what type of trade barrier would they use?




Quota

100

How does voting in Australia differ from voting in the United States?

Citizens are required by law to vote.

100

Who selects the head of government in Australia?

Parliament

100

If a company in Australia invest in updated technology what would MOST LIKELY happen?




It would contribute to the gross domestic product. 

200

In what type of economy does the government have all the control?

Pure command economy

200

Australia taxes China on ethanol at a rate of 15% per liter. What type of trade barrier is this?

Tariff

200

Businesses and consumers can make economic decisions, but follow some regulations. Where on the continuum do they fit?

Pure Command(A)----B----C----Pure Market(D)

between points C and D

200

Queen Elizabeth II currently holds this position.

Head of State

200

An entrepreneur is?

Someone that starts, manages a business and accepts its risks & failings.

300

What type of country would have a traditional economic system?

A small country that is geographically located.

300

If country X specializes in automobiles but does not produce enough food for their people, who should they trade with?

A country that specializes in agriculture and is small in manufacturing

300

What type of information can you get from the currency exchange rate?

the value of one country's money in terms of another

300

Australian citizens do not elect these members of government.

Head of State

300

What public service is connected to higher human capital?

Public education system

400

What type of economic system BEST describes Australia system?

Market leaning mixed

400

If the US is losing money on lamb imported from Australia and New Zealand what would the US government do?




Put a quota on lamb imported from Australia and New Zealand

400

Money has not been invested in a facility or the equipment for years. What could the government do to help?

Increase investment in capital goods

400

Australian citizens elect these members of government.

Members of Legislature 
400

What role do natural resources have in Australia's economy?

They have many valuable natural resources that it produces and exports.

500

Look at the picture. Where do most countries fall on the economic continuum?

Pure Command(A)----B----C----Pure Market(D)

Between B and C

500

What do countries need to have in place for international trade to happen?




A system of currency exchange

500

DOUBLE JEOPARDY!!!

What is the current GDP of Australia?

$54,000

500

What type of government does Australia have?

federal parliamentary democracy

500

FINAL JEOPARDY!

How does the literacy rate correspond with the standard of living?

A higher literacy rate lets us know that the government has invested in its human capital. An educated person is more likely to go on to college and get the degrees it takes to land higher paying jobs. This, in turn, allows them to make more money and have a comfortable life. On the other hand, a more literate person is also more likely to open their own business, adding on to the products and services that contribute to the GDP and thus, increasing the standard of living.