The Value of Money: How Currencies Affect Trade
Introducing the basic idea that different countries have different currencies and how their value relative to each other affects trade.
Key Questions
- Explain why you need to exchange Australian dollars for US dollars when travelling to America.
- Analyze how a 'strong' Australian dollar might make Australian holidays cheaper for tourists.
- Predict how a change in the value of the Australian dollar could affect the price of imported goods.
ACARA Content Descriptions
Suggested Methodologies
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