stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Australia: Economic Systems, Economic Growth, & Government Flashcards | StudBud
Explore
/
Australia: Economic Systems, Economic Growth, & Government
Australia: Economic Systems, Economic Growth, & Government
15 terms
·
StudBud Administration
·
607 plays
Imported from external platform
Flashcards
15 cards
F
Practice quiz
P
Host live
L
Questions
15
Answers
1
GDP per capita shows how much gross domestic product each ______ produced in a year
Government Branch
Company
Trade Partner
Person
2
Australia invests 5% of its GDP into education for its citizens - which productive resource is this an example of?
Capital Goods
Human Capital
Natural Resources
Entrepreneurship
3
What is the difference between the head of state and the prime minister?
The Head of State holds the most power
The Prime Minister is not real
The Head of State is not real
The Prime Minister holds the most power
4
True or False: Australian citizens are not allowed to vote
False
True
5
How does a command economic system answer the three economic questions?
Government makes SOME economic decisions
Government makes ALL economic decisions
People make SOME economic decisions
People make All economic decisions
6
Which productive resource can be a source of income when exported?
Human Capital
Entrepreneurship
Natural Resources
Capital Goods
7
When a country invests in new machinery, technology, and factories, it is increasing what?
Human Capital
Entrepreneurship
Capital Goods
Natural Resources
8
Why are entrepreneurs good for Australia's economy?
They create labor shortages by diverting workers to new industries
Their ideas, inventions and businesses create jobs
They invest in capital goods and boost the economy
They invest in human capital and education
9
Why is the Australian government and the United Kingdom's government so similar?
Neither country has a government
They both have a Parliamentary Democracy
They are both ruled by a dictator
They are not similar
10
Australia ranks among the top ________ freest national economies in the world.
Four
Three
Six
Five
11
Which group of people in Australia have used a traditional economy?
Aboriginal people
English settlers
French settlers
Dutch settlers
12
Australia's literacy rate is 99%. What does this mean?
They have 99 problems, but literacy ain't one
99% of adults in Australia can read and write
99% of adults in Australia can write, but not read
99% of adults in Australia can read, but no write
13
Australia has a mixed market economy, but leans closer to which side of the economic continuum?
Traditional
Mixed
Command
Market
14
What does gross domestic product measure?
The strength of a country's economy
Whether an economy is a command or market economy
The number of people participating in the economy
The amount of money that is circulated throughout the economy
15
The total value of goods and services produced in one year is called?
Gross Domestic Product
The Grand Total
Goods and Service Production
Accounting
