How does Australia make up for the resources that are in short supply?

Australia makes up for resources that are in short supply by importing them from other countries. For example, Australia is a net importer of oil, gas, and coal. Australia also imports a range of other resources, including metals, minerals, and food.

Australia's ability to import resources is supported by its strong economy and its extensive trade network. Australia is a member of the World Trade Organization (WTO) and has free trade agreements with a number of other countries, including the United States, China, and Japan. These agreements give Australian businesses preferential access to foreign markets, which makes it easier for them to import goods and services.

In addition to importing resources, Australia also makes up for shortages by exploring for and developing new resources. For example, Australia is investing in renewable energy sources, such as solar and wind power. Australia is also exploring for new oil and gas reserves.

By importing resources and developing new resources, Australia is able to meet its economic needs and maintain its standard of living.