Australia Economy

What type of economy is fully controlled by consumers and producers?

• Traditional

• Market

• Mixed

• Command

What type of economy is based on customs and history?

• Traditional

• Market

• Mixed

• Command

What type of economy is controlled by the government?

• Traditional

• Market

• Mixed

• Command

What type of economy is a combination of market and command?

• Traditional

• Market

• Mixed

• Command

Which of the following are called "Factors of Production"?

• Human Capital

• Capital Goods

• Natural Resources

• Entrepreneurship

Which type of economy does Australia have?

• Traditional

• Market

• Mixed

• Command

How does a country invest in to increase its GDP?

• Human capital

• Capital Goods

• Natural Resources

• Entrepreneurship

True of False - Australia trades its natural resources with other countries.

• True

• False

Which type of economy would be considered the freest?

• The economy closest to command

• The economy closest to market

Which of the following are examples of human capital?

• Education

• Factories

• Healthcare

• Businesses