Explain Why Australia's Currency Is Suitable to Use as a Medium

question 87

Essay

Explain why Australia's currency is suitable to use as a medium of exchange.
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Definitions:

Absolute Advantage

A concept in international trade that occurs when one country can produce a good or service more efficiently than another country, using the same amount of resources.

Wheat

A cereal grain that is cultivated worldwide and serves as a staple food for a large portion of the world's population.

Specialization

The practice of focusing resources on the production of specific goods or services to increase efficiency and productivity.

Brownies

A type of chocolate dessert or sweet snack that is typically baked in a pan and cut into squares or rectangles, known for its dense and rich texture.