Geography Essay
Geo Essay
International trade is the movement of goods, services and ideas between countries. It is based on a country specialising in producing a surplus of the goods it can produce most efficiently in order to gain a competitive advantage. Australia trades with over two hundred countries and contributes one percent to world trade. Trade is a vital component of Australia’s economic prosperity. Reasons for international trade include employment, business and economic growth. For many years, Britain was Australia’s major trading partner but since it joined the European Union in 1973, we have increased our trading links with countries in the Asia-Pacific region. Advantages in trading products include Australia selling coal to China and Japan in high prices while in return Australia imports cheap toys produced by China and high-value products such as cars made in Japan. Reasons for international trade include employment, business and economic growth.
Culture is all the knowledge and values shared by a society. The advantages of trade towards culture include a variety of products, multiculturism and offers lifestyle choice. A variety of products leads to a large variety in products and more freedom in choosing products. Multiculturalism welcomes and comforts individuals from different nations in Australia and broadens the Australian trade market. Lifestyle choices are vastly improved with exported items from different nations. In saying that, there are still many disadvantages from international trading on culture. Some impacts include competition with local markets and inferior products. Successful competition with local businesses can eventually lead to loss of jobs and broadening of export products.
Economy is the system of production, distribution and consumption. Australia has had billions of dollars of economic growth since its beginning of international trade. Advantages to the economy via trade are employment, higher economic growth and source of income.
International trade is the movement of goods, services and ideas between countries. It is based on a country specialising in producing a surplus of the goods it can produce most efficiently in order to gain a competitive advantage. Australia trades with over two hundred countries and contributes one percent to world trade. Trade is a vital component of Australia’s economic prosperity. Reasons for international trade include employment, business and economic growth. For many years, Britain was Australia’s major trading partner but since it joined the European Union in 1973, we have increased our trading links with countries in the Asia-Pacific region. Advantages in trading products include Australia selling coal to China and Japan in high prices while in return Australia imports cheap toys produced by China and high-value products such as cars made in Japan. Reasons for international trade include employment, business and economic growth.
Culture is all the knowledge and values shared by a society. The advantages of trade towards culture include a variety of products, multiculturism and offers lifestyle choice. A variety of products leads to a large variety in products and more freedom in choosing products. Multiculturalism welcomes and comforts individuals from different nations in Australia and broadens the Australian trade market. Lifestyle choices are vastly improved with exported items from different nations. In saying that, there are still many disadvantages from international trading on culture. Some impacts include competition with local markets and inferior products. Successful competition with local businesses can eventually lead to loss of jobs and broadening of export products.
Economy is the system of production, distribution and consumption. Australia has had billions of dollars of economic growth since its beginning of international trade. Advantages to the economy via trade are employment, higher economic growth and source of income.