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Australia Government and Economics

Quiz by Jessica Smith

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20 questions
Show answers
  • Q1
    Which is true about the economic system in Australia?
    Laws are in place to protect the rights and property of people who want to start their own businesses in Australia.
    It is difficult for individuals to start their own businesses.
    Few Australians are willing to use their money and time to start businesses because the government is likely to take their business away.
    Government rules and laws make starting a business in Australia very risky.
  • Q2
    Which is an example of a capital good?
    a factory
    health care
    a diamond
  • Q3
    Which action by the Australian government would make its economy less like a mixed economy and more like a pure market economy?
    the addition of a $500 fee for all automobiles imported into the country
    a 10 percent tax on all wool bought from European countries
    a limit on salt imports of 80 tons per year
    the decision to let supply and demand set the price of gasoline
  • Q4
    Australia’s early Aborigines made economic decisions based on customs or beliefs . This would be an example of a
    traditional economy.
    command economy.
    free enterprise system
    market economy.
  • Q5
    Tariffs and quotas are alike because they both
    increase trade between countries.
    completely stop trade between countries.
    make trading a lot easier between countries.
    restrict or limit trade between countries.
  • Q6
    Which is an example of investing in capital goods by a company?
    providing health care for workers
    providing classes for workers to learn new skills
    keeping an old machine to see if it will last longer
    buying new computers to build products more quickly
  • Q7
    Who sets the price for goods in Australia?
    Prices for goods are set based on customs and beliefs of the Aborigines.
    Buyers and sellers agree upon price.
    The governor-general sets prices for most goods.
    Parliament sets a price for all goods in the country.
  • Q8
    How is the leader chosen in a parliamentary democracy?
    by the parliament
    by the monarch
    by the courts
    by the people
  • Q9
    Which position is the head (leader) of government of Australia?
    Prime Minister
  • Q10
    Represents the Queen in Australia.
    Prime Minister
  • Q11
    Which of the following is an economic system in which the government and people are used to decide how to use resources?
    Traditional economy
    Market Economy
    Command economy
    Mixed Economy
  • Q12
    What type of economy does Australia have?
  • Q13
    Which of the following is an investment in human capital?
    Purchasing new textbooks
    Education and healthcare
    Buying new computers
    Paving roads
  • Q14
    Australia's government is modeled after the
    United States
    United Kingdom
  • Q15
    Which natural resource is important to Australia’s economy?
    modern factories
    excellent highways
    education of workers

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