17.4 Flashcards
Australia, Asia, and the Global economy (4 cards)
1
Q
Define commodities
A
raw materials or agricultural products that can be bought or sold
2
Q
What is economies of scale?
A
The saving of costs from higher levels of production.
3
Q
What is the composition of trade?
A
What Australia imports and exports
4
Q
Primary products
A
Natural products that have not been refined; raw
