Elevated commodity prices have benefited Australia greatly in terms of higher national income, company profits and government receipts. While still historically high in 2022, if downward pressure on commodity prices persists due to slowing global growth, this could mean fewer positive surprises for Australia's national income moving forward. Decarbonisation is also a global trend that impacts Australia and will inevitably impact Australia's export base. The earlier Australia prepares for this change, the better placed we will be as, and when, these shifts arrive. Questions: 1. How can Australia prepare itself as the trend toward decarbonisation continues and impacts our commodity exports and prices? (2 marks) 2. What are three possible new areas of comparative advantage that Australia can capitalise in the near future? (2.5 marks) Explain: