Trade

Question 1

What are IMPORTS?

Answer 1

the goods and services purchased in an overseas market and sold in the Australian market. Consumers may desire an item different from those provided by Australian businesses.

Question 2

What are EXPORTS?

Answer 2

the goods and services produced in Australia and purchased overseas. Selling in this way generates vital income for our economy.

Question 3

What is TRADE?

Answer 3

the exchange of goods and services between nations. Countries will trade resources because they may not have the resources required or the quantity required to satisfy the needs of their nation

Question 4

What is a TARIFF?

Answer 4

a tax put on imported goods. This is used o look after a nations own producers but being too expensive would discourage the purchase of imported goods.

Question 5

What are MULTINATIONAL CORPORATIONS?

Answer 5

organisations that operate in more than one nation.They have head office in one country but branches in other countries.

Question 6

Where do we IMPORT FROM?

Answer 6

We mainly import goods from china, Japan, Singapore and USA . These include petrol, cars, gold, freight services and computers.

Question 7

Where do we EXPORT TO?

Answer 7

We mainly export goods to China, Japan, Singapore and the USA. These include iron ores,coal, natural gas, beef, education and gold.