Australia and the Global Economy

Question 1

How does trade with other nations occur?

Answer 1

Australia imports goods and services made overseas into Australia, and export goods and services form Australia to other countries.

Question 2

What is foreign direct investment?

Answer 2

foreign funds are used to establish new or existing businesses in Australia

Question 3

What is an international market for labour?

Answer 3

Australians work overseas and people from other countries come to work in Australia.

Question 4

Technology in the global economy

Answer 4

We can quickly and efficiently communicate with potential customers all over the world

Question 5

The Importance of Trade Internationally

Answer 5

1. We earn money exporting goods
2. International trade provides employment
3. Australia can buy products from other countries that it does not produce itself
4. Provides the opportunity to purchase goods at lower prices