- Natural resources are materials that are found in nature and can be used for economic gain.
- Some of the natural resources in Australia are coal, iron, copper, natural gas and gold.
- Natural Resources:
- Australia has many natural resources. Some of the natural resources are coal, iron, copper, gold, natural gas, uranium, and renewable energy sources. Australia’s resources attracts many foreign investments. This will relate to thinking at the margin because Australia’s government have to decide how much do they want to export these resources to other countries. In addition, this also relates to opportunity cost because after thinking at the margin, Australia also should have a backup to export its natural resources just in case if one of its countries who buys its resources doesn’t want it anymore. So its opportunity cost could be another country.