ATAR Notes: Forum

VCE Stuff => VCE Business Studies => VCE Subjects + Help => VCE Economics => Topic started by: hdxx on October 13, 2018, 02:05:02 pm

Title: Slowing Chinese economy on Aus living standards
Post by: hdxx on October 13, 2018, 02:05:02 pm

The Chinese economy has reached the point we hoped it wouldn’t – growth has slowed and their demand for our mineral exports has decreased.’

Outline one possible effect of the slowing of the Chinese economy on Australian living standards. 2 marks

Can anyone assist in the affect this will have on living standards?
Thanks

Title: Re: Slowing Chinese economy on Aus living standards
Post by: Chelsea f.c. on October 13, 2018, 02:46:40 pm

Australia exports minerals to China so reduced demand for minerals will decrease exports and hence output where living standards is GDP per capita so a reduction in output will reduce living standards... maybe try to understand through looking at output equation... good luck for exam =)