Economic Concepts and Australia

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A purchase made with a credit card may cost more than the actual purchase price.

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This highlights the potential for additional fees or interest associated with credit card transactions.

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An entrepreneur invests resources to start a business.

Back

Entrepreneurs take risks to create new products or services.

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Australia taxes Chinese ethanol at AU$0.395 per liter.

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This is an example of a tariff imposed on imported goods.

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Australia’s economic system is a mixed economy.

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This means it incorporates both private enterprise and government intervention.

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Australian citizens must vote once they turn 18.

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Voting is mandatory in Australia for eligible citizens.

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Canada and Australia have constitutional monarchies and parliamentary democracies.

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Both countries share similar political structures.

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Canada exports timber, aluminum, electricity, natural gas, and wheat.

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These are key components of Canada's export economy.

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Brazil exports coffee, sugar, soybeans, and poultry.

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These agricultural products are significant to Brazil's economy.

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Australia has a high standard of living due to a high literacy rate.

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Education contributes significantly to the quality of life.

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Historical discrimination in Australia affected Aboriginal communities.

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This has had lasting impacts on these communities.