Australia's Economy and Trade Insights

Australia, with a population of 26 million, is the 53rd most populated country but boasts the 13th largest economy. Its wealth stems from abundant mineral resources, a strong export economy, and a robust agricultural sector. The country ranks high on the Human Development Index due to its quality of life, education, and economic stability. Australia's immigration policy focuses on attracting skilled workers, further boosting its economy. Tourism and a booming housing market also contribute to its wealth. The country's economic agility and the Anglo-Saxon economic model play crucial roles in maintaining its prosperity.

What percentage of the world's population resides in Australia?

• 1.5%

• 5%

• 0.32%

• 2.5%

Which mineral is Australia the largest producer of, crucial for batteries?

• Lithium

• Gold

• Copper

• Iron

Which country is Australia's largest trading partner?

• South Korea

• India

• China

• Japan

What is a major export product of Australia besides minerals?

• Food

• Automobiles

• Electronics

• Textiles

What is Australia's rank on the Human Development Index?

• 5th

• 15th

• 8th

• 12th

How does Australia's immigration policy differ from other countries?

• It has no specific focus.

• It focuses on cultural diversity.

• It targets highly skilled workers.

• It aims to attract younger workers.

What was the contribution of tourism to Australia's GDP in 2019?

• 3.2%

• 4.5%

• 1.5%

• 2.8%

What is a significant challenge in Australia's housing market?

• Lack of demand for new homes

• High cost of housing

• Limited construction materials

• Excessive government regulation

Which economic model is prevalent in Australia?

• Socialist model

• Anglo-Saxon model

• Nordic model

• Asian model

What is a key factor in Australia's economic agility?

• Limited technological advancement

• Efficient adaptation to challenges

• Strict regulations

• High taxation