Australia in the Global Economy · Global Markets
Trade and Specialization
Understanding why nations trade and how Australia specializes in certain industries.
Key Questions
- 1Why would Australia import products that it is capable of producing itself?
- 2How does specialization increase the total amount of goods available globally?
- 3What happens to a local community when its main export industry declines?
ACARA Content Descriptions
AC9HE7K01AC9HE7S04
Year: Year 7
Subject: Economics & Business
Unit: Australia in the Global Economy
Period: Global Markets
Suggested Methodologies
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