Australia Trade

Why does Australia need to trade with the rest of the word.

• Because Australia has unlimited resources and wants to share them.

• Because trading helps other countries develop

• Because Australia prefers foreign goods over domestic products.

• Because Australia has a small population and cannot produce everything it needs

What does the phrase "Australia rode on the sheep’s back" refer to in the 1800s?

• The importance of the wool industry in Australia’s early development.

• Australia’s dependence on mining as its primary industry.

• The popularity of sheep farming as a leisure activity in the 1800s.

• The widespread use of sheep for transportation in early Australia.

What was one reason why Australia’s wool and wheat industries were important in the 1800s and 1900s?

• They helped Australia build factories for manufacturing.

• They made Australia famous for its technology.

• They made Australia rich by exporting wool and wheat

• They made Australia rely on imports for food.

What was the effect of the gold rushes in the 1850s on Australia's economy?

• It made farming the main source of income for Australia.

• It caused Australia to stop exporting minerals.

• The gold rush led to the growth of mineral exports, which are still important today.

• It led to a decrease in mining and exploration.

What has grown in Australia’s trade over the past twenty-five years?

• Exports of tourism and education services.

• Exports of Manufactured goods like motor vehicles.

• Import of Agricultural products.

• Imports of services such as tourism and education.

Who were Australia's major trading partner in the history.

• United Kingdom and European Union

• China and Asia countries

• United States and China

• European countries and China

Where have most of Australia’s exports gone in recent years?

• Mostly to the United Kingdom and European Union.

• Mostly to Asian countries and the United States.

• Mostly to Latin America and Africa.

• Mostly to Australia’s neighbors in the Pacific Islands.

Why is Australia consumer spending more on imports?

• Australian producers have become less efficient.

• Rising incomes and cheaper products

• Australia produces fewer products than it needs.

• Consumers prefer to buy local products.

Why are some imports cheaper than domestic products.

• Australian products are of poor quality.

• Imports come from countries with lower production costs, such as Asian countries

• Australia has more efficient producers.

• Australian government controls the prices of imports.

How do imported products encourage competition in Australia?

• By reducing the number of products available in stores.

• By offering lower prices through greater competition with domestic producers.

• By causing domestic producers to stop selling products.

• By limiting the variety of products in the market.