(Time Frame: 3 weeks)
In this unit, students will:
*Explain how citizens participate in government in Australia.
*Analyze the economic systems of Australia.
*Explain how voluntary trade benefits Australia.
*Describe factors that influence economic growth in Australia.
*Explain the impact of location, climate, distribution of natural resources, and population distribution on Australia.
Standards:
a. Explain citizen participation in democratic governments [i.e. the role of citizens in choosing the leaders of Australia (parliamentary democracy)].
a. Compare how traditional, command, and market economies answer the economic questions of 1-what to produce, 2-how to produce, and 3-for whom to produce.
b. Explain that countries have a mixed economic system located on a continuum between pure market and pure command.
c. Describe the economic system used in Australia.
a. Explain how specialization makes trade possible between countries.
b. Compare and contrast different types of trade barriers, such as tariffs, quotas, and embargoes.
c. Explain why international trade requires a system for exchanging currency between nations.
a. Evaluate how literacy rates affect the standard of living.
b. Explain the relationship between investment in human capital (education and training) and gross domestic product (GDP per capita).
c. Explain the relationship between investment in capital goods (factories, machinery, and technology) and gross domestic product (GDP per capita).
d. Describe the role of natural resources in a country’s economy.
e. Describe the role of entrepreneurship.
a. Describe how Australia’s location, climate, and natural resources impact trade and affect where people live.