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Economy of Australia

Economy of Australia. 3/26/2009. What type of economy does Australia have?. Mixed economy: mostly capitalist Factors of Economic Growth: Human capital: government provides good education and healthcare Good schools. Children have to go to school until age 15. Government provides healthcare.

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Economy of Australia

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  1. Economy of Australia 3/26/2009

  2. What type of economy does Australia have? • Mixed economy: mostly capitalist • Factors of Economic Growth: • Human capital: government provides good education and healthcare • Good schools. Children have to go to school until age 15. • Government provides healthcare

  3. What kind of economy does Australia have? • Entrepreneurs: important to a lot of industries • Examples: farming and fishing businesses are mainly entrepreneurs • Capital goods: in last 50 years, Australia has invested in them… • Building factories • Developing new technology

  4. What kind of economy does Australia have? • Natural Resources: it has a lot of them… • Forests • To keep from having deforestation, they are replanting trees • Mining: gold, lead, silver, zinc, and uranium • Good land for farming and livestock: this was the most important part of Australia’s economy historically • Beaches and Great Barrier Reef

  5. How do people make money in Australia? • Manufacturing: cars, clothing, food, airplanes, steel, iron, chemicals, paper, and sugar • Farming: still important • Wool, beef, dairy products, wheat • Tourism: beaches, Great Barrier Reef, cities, landmarks (Sydney Opera House)

  6. Tourist attractions

  7. How does the wealth of Australia help the people? • Australia has a strong economy. Because of this the people get: • Good education and healthcare • Ability to improve their lives and make more money • Remember: high literacy rate (education) leads to high GDP (gross domestic product) • In other words: good education leads to making more money

  8. What are some bad things about the strong economy of Australia? • Ozone depletion: all around the world • Pollution from industry, hurts atmosphere • A lot of people believe this is causing global warming • Warmer temperatures are hurting animals and the Great Barrier Reef

  9. Map of rainfall in Australia…where do you think the people live?Orange=driest, blue=wettest

  10. Where the people live…

  11. Why do people live where they do in Australia? • Climate: they don’t want to live in the middle of the country: desert • Instead in the southeast and southwest: temperate climate • Trade: people live on the coast, mainly in the southeast and southwest • Able to have trade routes around the world • Close to China: very important for trade

  12. Australia and China are pretty close…

  13. Ticket-out-the-door • What kind of economy does Australia have? • Where do most of Australia’s people live? (On the coast or inland) • Why is the economy of Australia growing? • What tourist attraction in Australia is being hurt by ozone depletion? • Why is education important to Australia’s economy?

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