ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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You are watching a speech by the Prime Minister of the Australia on T.V. with your parents. He is explaining a plan for improving the Australian economy. In the speech, he says:“We must make it easier for Australians to open small businesses. My plan will give tax breaks and incentives to Australians who want to start their own business.” The Prime Minister’s plan is based on the conclusion that:
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Promoting entrepreneurship will improve economic development
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Investing in human capital will increase the country’s gross domestic product (GDP)
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Investing in capital goods will increase the country’s gross domestic product
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A tariff on goods imported from other nations will help Australian businesses compete.
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Explanation:
Detailed explanation-1: -“A Future Made in Australia means investing in a future for all Australians. “The Albanese Labor Government backs local businesses. Pallion is a prime example of self-sufficient manufacturing right here in Australia, based on our resources and our renowned know-how.
Detailed explanation-2: -Economic liberalisation and deregulation of the Australian economy began in the early 1980s under the Hawke Labor Government, which commenced the process of economic reform by concluding a wages accord with the trade union movement.
There is 1 question to complete.