Trade Section

Question 1

What goods and services do we import and export?

Answer 1

Australia exports goods and services like coal, iron, gold and natural gas to other countries. items like petroleum, motor vehicles, medicaments and gold are exported to australia.

Question 2

What is meant by trade?

Answer 2

Trading is the exchange of goods and services between nations. Trading is important because it creates a stronger economy for that set country

Question 3

What is a tariff?

Answer 3

A tarrif is a tax on imported goods and is one of the governments imposed restrant on the flow of international good and services

Question 4

Multinational (transnational) companies and why these companies are growing

Answer 4

Multinational companies are growing because it is commonly economical for a multinational to establish part of its business operations in a country other than its own. Another reason why they are growing is due to the popularity of the product they create eg. Coca cola.

Question 5

Who do we import from and export to?

Answer 5

Australia import goods and services from china, usa, japan and thailand. We export our goods to countries like china, japan korea and india

Question 6

One more reason why multinationals are growin

Answer 6

Economics of sale due in part to rapid advances in technology