Government and Economy of Australia- fillable notes, definitions and presentatio

The file includes a PowerPoint, student fillable notes, post-note definitions and teacher-filled notes.

Covered in the PowerPoint is-

-Government system in Australia

- The Economy of Australia

- Supply and demand

- Trade in Australia

-Natural resources and Entrepreneurship

- Barriers to trade

- Currency exchange

- Standard of living

-* Terms to define chart

The following standards are covered

-SS6CG4 – Explain forms of citizen participation in government

-SS6E10 – Analyze different economic systems.

a. Compare how traditional, command, and market economies answer the economic questions of 1-what to produce, 2-how to produce, and 3-for whom to produce.

b. Explain that countries have a mixed economic system located on a continuum between pure market and pure command

c. Describe the economic system used in Australia.

-SS6E11 – Give examples of how voluntary trade benefits buyers and sellers in Australia.

a. Explain how specialization makes trade possible between countries

b. Compare and contrast different types of trade barriers, such as tariffs, quotas, and embargos.

c. Explain why international trade requires a system for exchanging currencies between nations.

-SS6E12 – Describe factors that influence economic growth and examine their presence or absence in Australia

a. Evaluate how literacy rates affect the standard of living

b. Explain the relationship between investment in human capital (education and training) and gross domestic product (GDP per capita).

c. Explain the relationship between investment in capital goods (factories, machinery, and technology) and gross domestic product (GDP per capita).

d. Describe the role of natural resources in a country’s economy.

e. Describe the role of entrepreneurship