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Economics Data Analysis

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Economics Data Analysis

📊 Part 1: Interpreting Economic Data

1. Look at the data table below showing Australian online shopping growth:

Online Shopping in Australia (millions of dollars)
2020: $28,000 | 2021: $35,000 | 2022: $42,000 | 2023: $48,000

What economic trend can you identify from this data?

2. Based on the data above, what might have caused this trend? Give two possible reasons.
3. Which statement best describes what this data shows?

Online shopping is decreasing each year

Online shopping is growing steadily

Online shopping stays the same

The data shows no clear pattern

4. A graph shows that youth unemployment in a town increased from 8% to 15% over two years. What economic issue does this data reveal?

🔍 Part 2: Cause and Effect Analysis

5. Complete this cause and effect statement about the online shopping data:

Cause: During 2020-2023, more Australians _____________ and _____________

Effect: Online shopping spending increased from _____________ to _____________

6. If a new shopping centre opens in your area, what might be the economic effects? List three possible outcomes.
7. Which of these could cause a decrease in local cafe sales? (Select all that apply)

A new coffee shop opens nearby

Coffee prices increase significantly

More people work from home

The local population grows

🔮 Part 3: Predicting Economic Trends

8. Based on the online shopping trend from 2020-2023, predict what online shopping might be worth in Australia by 2025. Explain your reasoning.
9. If electric car sales in Australia doubled each year for three years, what might this mean for:

a) Petrol stations: ________________________________

b) Electricity demand: ________________________________

c) Car mechanics: ________________________________

10. You notice that house prices in your suburb have increased by 10% each year for the past three years. What questions would you ask to better understand this economic trend?

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