Economic Concepts and Systems

Front

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

Back

Credit card purchases can include additional fees or interest, making them more expensive.

Front

A trade barrier affects the exchange of goods and services.

Back

Trade barriers slow or block the free exchange of goods and services.

Front

Definition of an entrepreneur.

Back

An entrepreneur invests resources to start a business.

Front

Australia's taxation on Chinese ethanol.

Back

Australia taxes Chinese ethanol at AU$0.395 per liter, imposing a tariff.

Front

Australia's role in coal production.

Back

Australia is a major source of coal for the world.

Front

Australia's economic system.

Back

Australia has a mixed economy with a high gross domestic product.

Front

Voting requirement for Australian citizens.

Back

Australian citizens must vote once they turn 18.

Front

Election of Australian parliament members.

Back

Australian citizens elect members to both houses of parliament.

Front

Australia's GDP and natural resources.

Back

Australia's GDP depends mostly on the export of natural resources.

Front

Government systems in Canada and Australia.

Back

Both have constitutional monarchies and parliamentary democracies.