The Australian Economy

Select any of the below that have led to increased globalisation.

• Trade barriers have been reduced around the world

• Countries can't do things on their own

• Growth of technology

• Improved transportation

• The value of the dollar

The objective of an economy is to satisfy _____________ needs and wants; however, there are only limited ___________ available.

• limited, resources

• limited, needs

• unlimited, resources

• unlimited, needs

Which of the following is not a sector in the Australian Economy

• Household sector

• Finance sector

• Overseas sector

• Primary sector

This sector is made up of individuals in the economy

• Household sector

• Business sector

• Finance sector

• Government sector

Select the sectors below that are required to pay taxes to the government

• Finance sector

• Business sector

• Overseas sector

• Household sector

Select the points that apply to the finance sector

• They receive taxation revenue from households and businesses

• They receive savings from households and businesses

• They help households and businesses invest by lending them money

• They pay taxes to the Government

TRUE of FALSE

Businesses provide goods and services to households. This is known as output production.

• TRUE

• FALSE

Which sector is being describe below?

They spend money on public goods and services, such as roads, parks, schools and hospitals.

• Business sector

• Government sector

• Overseas sector

• Financial sector

The sector that deals with Australia's imports and exports is?

• Business sector

• Household sector

• Overseas sector

• Government sector

Trade allows countries to expand their markets so that businesses can produce and distribute more goods and services to meet global needs and wants. This in turn equals..... (select all that apply)

• improved living standards

• higher wages

• more goods and services

• greater savings