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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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what type of economy does australia have
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
what kind of economy does australia have
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
what kind of economy does australia have4
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
how do people make money in australia
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)
how does the wealth of australia help the people
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
what are some bad things about the strong economy of australia
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
why do people live where they do in australia
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
ticket out the door
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?