Economics Unit 3 Topic 1 Flashcards
Globalisation
the increasing integration between countries over trade, investment, ideas and people bought by people and greatly facilitated through improvements in technology and transport.
Economic Intergration
The increasing integration between countries over trade, investment, ideas and people bought by people and greatly facilitated through improvements in technology and transport.
External stability
an aim of government policy that promotes sustainable economic growth on the external accounts so that Australia can service its foreign liabilities in the medium to long run and avoid currency volatility
- measured through CAD (% of eco growth)
- currency volatility
- net foreign liabilities (debt/equity)
essentially whether or not australia can pay its debts and have high interest rates
a lack of external stability can cause a depreciation in the currency as less foreign investment is put in as investor confidence about australia’s ability to pay debts
Internal Stability
pursuing the goal of price stability and full employment (unemployment between 4-5%)
5 top two-way trading partners
- China
- United States
- Japan
- Korea
- United Kingdom
5 top exports
- Iron Ore
- Coal
- Natural Gas
- Education related travel serivces
- Gold
5 top export destinations
- China
- Japan
- Korea
- United states
- United Kingdom
5 top imports
- Travel serivces
- Petroleum
- Vehicles
- Telecom equipment and parts
- Computer
5 top import destinations
- China
- USA
- Japan
- Germany
- Thailand
pKa
equals the ph at equivalence point
find H+ concentration
equals 10^-pH
find OH- concentration
equals 10^-pOH
H+ times OH-
equals 10^-14
Ka equals
Kc equals
products/reactants
