Economics in Australia
Quiz
•
Social Studies
•
6th - 8th Grade
•
Hard
Mable Rogers
Used 2+ times
FREE Resource
Enhance your content in a minute
20 questions
Show all answers
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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