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Economics in Australia

Authored by Mable Rogers

Social Studies

6th - 8th Grade

Used 2+ times

Economics in Australia
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is true about the economic system in Australia?

It is difficult for individuals to start their own businesses.

Government rules and laws make starting a business in Australia very risky.

Laws are in place to protect the rights and property of people who want to start their own businesses in Australia.

Few Australians are willing to use their money and time to start businesses because the government is likely to take their business away.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of a capital good?

gold

health care

a factory

a diamond

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What has helped Australia to have a high GDP?

poor healthcare

modern factories and technology

natural resources that are hard to develop

workers with low-paying jobs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tariffs and quotas are alike because they both

restrict or limit trade between countries.

completely stop trade between countries.

increase trade between countries.

make trading a lot easier between countries.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which trade barrier discourages trade by placing a tax on foreign goods?

Embargo

Quota

Subsidy

Tariff

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an important role of entrepreneurs in the Australian economy?

They sell stocks in the stock market.

They provide new jobs for Australian workers.

They shut down factories that are not making much money.

They take care of sick patients.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is an example of investing in capital goods by a company?

providing health care for workers

providing classes for workers to learn new skills

keeping an old machine to see if it will last longer

buying new computers to build products more quickly

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