Economy of Australia

Australia, being one of the leading trade partners with China, hold a strong relationship with the country benefiting our businesses and economy: they are essential for our success in the leading years to come. Today I will be talking to you about the market capitalist economy and its purpose, the ChAFTA and how it benefits both us and China, the increase or decline of exported goods, and the success of Carman’s Fine Foods and how they maintain a competitive advantage in China’s economy. A market capitalist economy is an economy that doesn’t evolve the government, rather businesses operate in a market, producing goods and services for the consumers’ needs. Australia manages the economic problem of scarcity by allowing businesses to exchange…

Economy of Australia is one of the largest mixed economies in the world, in 2013 the Australia’s total wealth is AUD$6.4 trillion and in 2015 the GDP of Australia is AUD$1.62 trillion. The taxation in Australia is divided into two parts which is federal taxation and state taxation. Australia government is also striving towards building a more adaptable labour market and augmenting the living standards. The healthy political, huge natural resources and its stable government led to phenomenal…

Australia and China both adopt a different economic system in exchange for a substantial economic growth to benefit their own nation. China being ranked 2nd in the world’s largest economy employs a command economy, which means the decisions on production and investment is decided upon the government. In comparison, Australia is a highly developed nation with a mixed market economy, meaning that the economy has a certain degree of planning involving the government, but the private sector dictates…

Despite this, some other states still lack effective laws. A senate committee looked into the issue earlier in the year and made many recommendations. The committee recommended that there should be a federal offence against revenge porn to protect all women no matter what state they live in Australia. Nicola Henry agreed with this recommendation in an online journal article and believes it will ensure more women are protected. “The majority of the 32 submissions made to the Senate inquiry…

the largest economies globally. Australia is among the wealthiest in the world, ranked as world 's 12th-largest economy. In 2012 Australia had the world 's fifth-highest per capita income, In an Australian Business prospective one of the most important points to be noted is on the countries Business culture i.e. knowing their manner of communication, management style etc. The other countries view Australians as relaxed outgoing and very friendly people. However, “G’day” (the informal “hello”) is…

Introduction: After five years negotiation, Australia as the twelfth country, finally joined the TPP at this October. The prime minister of Australia, Malcolm Turnbull said(http://www.smh.com.au/federal-politics/political-news/malcolm-turnbull-welcomes-tpp-as-gigantic-foundation-stone-for-economy-20151006-gk2fko.html) : “It is a gigantic foundation stone for our future prosperity.” However, Australian Super chairman Heather Ridout said：“the country "will regret" signing away sovereignty over…

Australia is well known for its mineral and farm products. It is the largest country in the Oceania. To keep this country flourishing, Prime minister Malcolm Turnbull asked me, the Minister of Trade to investigate two countries to work out which will benefit Australia if they import from them. The Australian economy has grown at around 2.5% per cent on average in the past two years. As the second largest economy in the southern hemisphere, Australia has a few macroeconomic objective targets. It…

dollar can affect the performance of the Australian economy? Exchange rates measure the relative value of a currency in exchange for a foreign currency. The exchange rate affects Australia’s economy most directly through changes in the demand for imports and exports. Australia’s adoption of a floating exchange rate in 1983 has had major implications on Australia’s relative international competiveness, terms of trade and the balance of payments. Over the past decade the Australian dollar has…

FEDERAL BUDGET INTRODUCTION: The Australian economy has experienced sustained growth over the past fiscal year in particular and the past decade in general when compared to the world economy. In 2012, Australia had encountered more than 20 years of perpetual fiscal growth which averaging 3.5% a year. The increase demand for resources both fossil, mineral and energy from Asia especially China has grown quickly, making a path for resource speculations and development in commodity trades. Despite…

population growth is due to natural increases (births outweigh deaths) and net overseas migration (more people enter Australia than leave). Immigration policy changes have since led to an increase in cultural diversity. Explore the population pyramid 'Australia's population' below. 1. Look at Australia's population for 2011. What do the two halves of the population pyramid show? Consider the shape of the graph. What does it suggest about the age range of the Australian population at that…