Go to the CIA Fact Book, https://www.cia.gov/the-world-factbook/ and look up the country Australia. Then complete the questions below.
1. What is a major industry in your country? (For example, Copper is a major industry in Zambia).
2. Go to Google and find information on the market price of the product. (For example, for Zambia you would Google ‘What is the market price of copper?’
3. On the graph below DRAW a demand curve and supply curve for your product. Label the horizontal and vertical axes, and label the curves.
4. Suppose consumer income increased. What impact would you expect an increase in consumer income to have on the market shown in question 3?
