Australia's Trade and Tourism Insights

Which country is currently Australia's largest trading partner?

• United States

• China

• Japan

• United Kingdom

What is the main export from Australia to China?

• Wheat

• Iron ore

• Automobiles

• Pharmaceuticals

Which of the following is NOT one of Australia’s top five export goods?

• Coal

• Gold

• Crude oil

• Dairy products

Which sector is most positively impacted by Chinese tourists visiting Australia?

• Mining

• Tourism and hospitality

• Agriculture

• Manufacturing

Which of the following is a major benefit of tourism to the Australian economy?

• Decreased employment

• Increased government revenue

• Lower export levels

• Reduced foreign investment

Which of the following is a key Australian import from China?

• Iron ore

• Electronics

• Wool

• Coal

Which of the following countries is NOT one of Australia’s major trading partners in the Asia region?

• Japan

• South Korea

• India

• Brazil

What is the five-sector circular flow of income model used to illustrate?

• The flow of goods only

• The movement of money, goods, and services in an economy

• The process of mining

• The structure of government

Which of the following is NOT a sector in the five-sector circular flow of income model?

• Households

• Firms

• Government

• Oceans

Which trade agreement has strengthened economic ties between Australia and Asian countries?

• North American Free Trade Agreement (NAFTA)

• ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA)

• European Union Customs Union

• Transatlantic Trade and Investment Partnership (TTIP)