...the declining price of wool, the Australian Wool Council (AWC) implemented a minimum price floor scheme to protect the Australian wool producers. The price floor for wool began in 1974 and ended in 1991 as “there was no plan to cope with the sharp reversal in the supply-demand situation.” (Clancy, The reason wool was knocked to the floor, 2011). 1.2 Price floor Price floor refers to the minimum price level in which a commodity can be sold in the market (Hubbard, Garnet, Lewis, & O'brien, 2010). It is usually illegal to sell the commodity below the stipulated price. This is a price that is higher than the equilibrium price that the market is prepared to pay for that commodity (Taylor, 2006). In the 1990s the Australian government imposed a price floor in the wool market with the view of protecting sheep farmers and providing them the assurance that they would not be affected by the price fluctuations in the global wool market. The move was aimed at facilitating growth in the industry, creating jobs and improving the standard of living of Australian farmers. In addition, the price floor prevented market from getting into price competition (Bardsley, 1994) Following diagram (Figure 1) shows the demand curve of a commodity that has price floor. Price of Wool FIGURE 1 D S Q1 QC Q2 Quantity of Wool P1 is the price determined by the market based on the demand for wool and the supply available. The Australian government set P2 as the floor price...
Words: 1586 - Pages: 7
...Summary Leigh Dayton argues about the risk of using cannabis in her article “Dope Head” which was published in The Weekend Australia on November 5-6, 2005. She states that cannabis leads to an increased risk of mental health problems and provides some research and evidence to proof her points of view. First, the author supports her argument by referring two academic experts’ opinions to blame cannabis. Second, the author outlines some research findings which support more evidence and concludes that regular cannabis use may increase risks of psychosis. Moreover, she states out another finding that cannabis can be used to relieve distress. Third, the author notes that young brains have higher potential being damaged from cannabis and the age at which people start to use cannabis is decreasing. According to a professional journal provides by the author, the cannabis is stronger than before. Next, the author demonstrates the reason why young brains are particularly at risk. She states that is because adolescent brains are still growing and they are subject to extensive internal change. Also, she refers an expert’s research to support that reason. At the end, she outlines more findings that drug and alcohol use affects growing brains, especially parts of the brain at the front of the skull are particularly affected. Further, the author states some possible reasons that why dope smoking may impair the formation of healthy wiring in brain. Last, the author gives...
Words: 979 - Pages: 4
...Australia - a Land for Men 2 3. Women in Australia 2 3.1 The “Bush-Woman“ in “The Drover‘s Wife“ 2 3.2 The role of Australian Women 2 3.3 Australian Feminism 2 4.Conclusion 2 5.Bibliography 3 6. Declaration of Authenticity 1. Introduction “[...] she fought a bad bullock that besieged the house for a day“ (Lawson 6). This would probably be a challenge for a man not for a woman. But in Henry Lawson‘s point of view this and fighting snakes and diseases are things women in the Australian bush are capable of doing as presented in The Drover‘s Wife. Henry Lawson (1867-1922) is the finest author and poet in Australia's colonial period and had a big focus on the Australian bush and life. He is famous for his works such as The Drover‘s Wife which got first published 1892 in The Bulletin - an Australian magazine of great importance. In his short story The Drover‘s Wife Lawson presents a mother with her children in a dangerous living situation in the Australian bush, “Lawson‘s story created the archetype of the pioneer bush-woman, a heroic mother left on her own by the drover husband, resigned to her fate, battling against the elements and winning“ (Carrera-Suarez, 140). Lawson, who lived in the Australian-Bush himself is able to judge which attributes are important to survive in it and so created the image of the drover‘s wife. His view of women...
Words: 936 - Pages: 4
...these three issues is because there will be a large loss of market share if readers, or may better say customers, in the society change the opinions about underlying values and beliefs of News Limited and loss confidence of their future behavior; the change of laws may limit its expansion; and the unethical employment may lead to social issue in the long term. The phone-hacking scandal of one of the News Corporation subsidiaries- News of the World reflects the whole entire business. One of Murdoch’s former top executive said Murdoch invented and established this culture in the newsroom, where you do whatever it takes to get the story, take no prisoners, destroy the competition, and the end will justify the means. As being Australian arm of News Corporation, News Limited tends to be suspected that they share the same underlying value and belief as all the other subsidiaries of Murdoch’s media empire, which drives them to behave similarly. Professor Rolph, from faculty of Law at University of Sydney, said even though there is no evidence that this conduct has occurred in Australia, what mostly like to occur is an enforceable act to privacy as a result. People will defend the news that is sourced unethically. However, the Former chairman and CEO of News Ltd, John Hartigan said, the culture in News Limited is so different from that in UK. People refer a lot of the media as “red tops’ in the UK. They are very aggressive newspaper; they are very sensational,...
Words: 602 - Pages: 3
...important to provide better education training and health facilities to the indigenous community of Australia for the prosperous economy of the country. These are the fundamental elements to get higher productivity, to create more employment opportunity following by the higher income level with higher HDI of the country. It is important to share in the prosperity of the nation. Providing Indigenous Australians with...
Words: 1645 - Pages: 7
... 1. Introduction Captain Arthur Phillip brought grape vines from Brazil and the Cape of Good Hope to Australia when his fleet arrived in Botany Bay, located in Sydney, in 1788, according to Wine Australian which is one department of Australian government. Since that Australia had made a history of producing and exporting wine. In 1854, a barrel of fortified wine was exported to London, which is the first reported Australian wine export (Wine Australia, 2012). Subsequently, Australian exports in wine have boosted at an extraordinary rate especially in recent years, reaching the record level in 2007. Today, Wine Australian also point out that Australia is the fourth largest wine exporter in the world, constituting about 4% of total world wine production, and export over 800 million liters to international wine market and as a result, it produces a contribution of around A$3 billion per year to Australian economy. Australian wine exports to more than 100 countries; mainly two biggest markets are United Kingdom and United State. Besides, there are other significant markets, such as Canada, New Zealand, Ireland, Japan, Singapore and India. Simultaneously, domestic consumers also have an enormous demand to Australian wine, consumed by about 500 million liters per annum. Hence, Australian wine brand value and reputation, namely “New World” wine, are also spreading around the world, constituting large percentage of market shares which previously owned by “Old...
Words: 5380 - Pages: 22
...The Dreaming The Dreaming is a term penned by famous anthropologist W.H. Stanner in 1956. (Fryer-Smith, 2002) It defines the conception of mystical spirits of the universe and encompasses everything within. This concept allows for explanations about the ‘Ancestral Beings’ and their travels, creating everything we see today. (Fryer-Smith, 2002) In customary principles, these ‘Ancestral Beings’ hold the power to arbitrate and guide the Aboriginal people’s lives. Indigenous Australians are the oldest inhabitants of the land with the most extensive practise of religion and customs, what we know as the Dreaming. (Edwards, 1998) The role and function of the Dreaming is to teach the Aboriginal people about the norms and mores of the sacred laws. Also known as customary law, these guidelines are an integral part of the Aboriginal culture as it maintains societal normalities. (ALRC, 1986) The Dreaming is a philosophy that binds every aspect of life together, it assists in knowing the past, present and future, and how to make conscious decisions to ensure the world continues triumphantly. According to Korff (2015) white man cannot comprehend the depth of the Dreaming, as it is more an analogy for providing identity and spiritualism to individuals. The diversity within the various communities explains how in-depth the spirituality is and how important this religion is to each Aboriginal person. Each tribe has their own definition and reason behind the Dreaming. The Ngarinyan kin...
Words: 2469 - Pages: 10
...Tutorial 7 (Week 11) 1 Tell whether each of the economic actors in the following list would be suppliers or demanders in the foreign exchange market of Australian dollars: (a) an Australian tourist in Europe: = supplier of AUD (b) a Japanese firm exporting to Australia = supplier of AUD (c) a U.K. investor who wants to buy Australian stocks = = demander of AUD (d) a U.K. tourist in Australia = demander of AUD (e) a German firm importing from Australia = demander of AUD (f) an Australian investor who wants to buy real estate in America = supplier of AUD 2. Explain whether each of the following changes would tend to appreciate or depreciate the Australian dollar, using supply and demand curves for the foreign exchange market to illustrate your answers: (a) higher interest rates in Japan Japan is reducing the supply of Japanese YEN depreciate the AUD in comparison to the YEN. (b) faster economic growth in Japan Appreciate the AUD in comparison to the YEN as the Japanese will have more money to spend on Australian goods (c) a lower rate of inflation in Australia relative to other countries Appreciate the AUD relative to other countries (d) a tight U.S monetary policy Depreciate the AUD in comparison to the US dollar (e) a tight monetary policy in Australia Appreciate the AUD in comparison to other countries f) an expansionary fiscal policy in Australia If the government increased spending this may put pressure...
Words: 422 - Pages: 2
...This assessment focuses on the issue of Hotel Laeta’s corporate social responsibility and its duty of care towards the Indigenous Australian people. Background Aboriginals Australians are technically the first people who lived in Australia. Australian Aboriginals were basically the hunters who used to eat the animals they caught and were also considered as gatherers of plants which could be eaten. Some of these groups then settled on the islands and are now called as Torres Strait Islander People. 1. Foundational Aspects of Indigenous Australian Cultures (the dreaming and economic organisation) The term dreaming is a spiritual or a regional perception which not only goes back to the creation of the events but it also grasps the present...
Words: 1557 - Pages: 7
...the Profitability & Dynamics of the Australian Wine Industry PREPARED FOR WINEMAKERS FEDERATION OF AUSTRALIA BY CENTAURUS PARTNERS – AUGUST 2013 This proposal is solely for the use of WFA. No part of it may be circulated, quoted or reproduced for distribution outside the addressees without prior written approval from Centaurus Partners. 2 Expert Report on the Profitability and Dynamics of the Australian Wine Industry Centaurus Partners INTRODUCTION AND REPORT CONTENTS The Australian (and global) wine industry is highly fragmented with many different business models, and significant variations in performance. Players within the industry make decisions based on their individual position, strategy and view of economic fundamentals. The intention of this review is to provide facts and perspectives to help WFA determine where it should focus its industry efforts and how it can support individual participants in their decision-making processes. The Report has four sections: ummary Findings of the Expert Review S ecommendations for the WFA Board to Consider R xecutive Summary of the Fact Base Supporting the Findings and Recommendations E Appendices • Recommended Next Steps for WFA • Overview of Approach, Analysis, and Sources • dditional Analyses and Exhibits—Available on the WFA Website www.wfa.org.au/review A Segment Definitions. To enable clear evaluation of the Australian wine industry quality segments for grapes...
Words: 1394 - Pages: 6
...populations in Australia, Indigenous Australians are at disadvantage in many areas. Areas ranging from employment, housing, justice and education among many more. There have been innumerable efforts at overcoming the disadvantages Aboriginal people have to face. For the purposes of this Essay, literature will be discussed in addressing the social inequality and disadvantage of indigenous people in relation to refining the gap in life expectancy (as a social-economic indicator) and what essential elements need to be considered for the process to work successfully. There are contending ideas in relevant literature as to what is the cause for the life expectancy gap between Indigenous and non-indigenous Australians, which also gives dissimilar arguments as to how to address the issue, with one side taking a view of longevity and the other a holistic method. It is argued that Indigenous Australians health inequalities could be narrowed with the improvement of the differences in health service access, provision and use. As the inabilities gain adequate health care due to, distance, cultural and availability barriers, thus leading to indigenous health problems being constant and prolonged (Healey 2002). However Eades of the of the Indigenous health research unit (2000, p.468) argues ‘that a complete tactic to improving the health of Aboriginal and Torres Strait Islanders involves understanding the close relationships between their social and economic status and their health’. This holistic...
Words: 1446 - Pages: 6
...References Australian for Native Title and Reconciliation. (1992). Redfern Speech(Year for the World’s Indigenous People). Retrieved from: http://antar.org.au/reports/paul-keatings-redfern-speech Australian for Native Title and Reconciliation. (2013). Reconciliation. Retrieved from: http://antar.org.au/campaigns/reconciliation Australian Human Rights Commission. ( 1997). Bringing them Home Report. Retrieved from: https://www.humanrights.gov.au/publications/bringing-them-home-report-1997 Australian Indigenous HealthInfoNet. (2013). Summary of Australian health,2012. Retrieved from: http://www.healthinfonet.ecu.edu.au/health-facts/summary Creative Spirit. (2013). Racism in Aboriginal Australia. Retrieved from: http://www.creativespirits.info/aboriginalculture/people/racism-in-aboriginal-australia Eckert, A. (2002). The Global and the Local: Reconciling Universal Human Rights and Cultural Diversity. Human rights and Human welfare, 2(2), 1-7. Hollenbach, D. (2002). The common good and Christian ethics. Retrieved from: http://site.ebrary.com.ezproxy2.acu.edu.au/lib/australiancathu/docDetail.action?docID=10021347 Hunt, J., & Smith, D. ( 2005). Strengthening Indigenous Community Governance: A step towards advancing Reconciliation in Australia. Centre for Aboriginal economic policy research, 2005(4), 1-17 Kuek, V. (2012). Action on reconciliation: Turning good intensions into real actions through commitment to a business paln aims to create better relationships and opportunities...
Words: 305 - Pages: 2
...Gurindji people, Wattie Creek. Vincent Lingiari and Mick Rangiari asked Frank Hardy to make a sign which had the word “Gurindji” across it. This showed that their animosity was much deeper than the wages and working conditions. Despite that these people could not read, they understood the significance and power of the sign. 1967 – Referendum On the 27th of May 1967, the Holt Government approved two modifications to the Australian constitution associating to the Indigenous Australians. Australians voted to change the constitution to permit the commonwealth to construct respectful laws for the Indigenous people anywhere they lived in Australia. It also allowed them to include Aboriginal people and incorporate them in the national census. The results for the referendum vote was 94 per cent of Australians voted a strong yes, with an outstanding majority of votes in all 6...
Words: 1226 - Pages: 5
...Final market report- Foreign exchange rate Group 4- Team 5 Bui Ai Phuong- s3445871 Nguyen Ha Phuong- s3445955 Nguyen Thi Minh Tam- s3360710 Bui Khac Xuan- s3342375 Table of contents Introduction 3 Market past performance 3 USD/VND exchange rate 3 AUD/USD exchange rate 4 Analysis of historical macro factors 4 GDP 4 Interest rate 6 Inflation rate 7 Government Intervention 8 Commodity Price 9 Market view and forecasting 10 GDP 10 Interest Rate 10 Inflation Rate 11 Commodity Price 12 Trading strategy 12 Risk anticipation 13 Conclusion 13 References 13 Introduction Vietnam bank for industry and trade- Vietinbank was established in 1988, after the separate from the State Bank of Vietnam. Over more than 20 years of development and growth, Vietinbank is one of the largest commercial bank, holding key role in the current market in Vietnam. As a foreign exchange dealing team working for Vietinbank, in this report, we will first explain the behavior of two currency pair: AUD/USD and USD/VND from 2013 to 2014 by analyzing some historical macro factors that affect the foreign exchange rate during the period. And then we will explain the behavior of these exchange rates over the next six months, after that undertake foreign exchange trading strategies to achieve maximum profit for Vietinbank. Market past performance USD/VND exchange rate According to the graph, in the first three quarter of the year 2013, USD/VND rate flutuated...
Words: 2625 - Pages: 11
...Health of Indigenous Australians Name University Details Date of Submission Aboriginal and Torres Strait islanders in Australia suffers from poor health. The poor health is associated with poverty, malnutrition, overcrowding, poor hygiene, environmental contamination, and prevalent infections. Inadequate clinical care and health promotion, and poor disease prevention services aggravate this situation (Gracey & King, 2009). Indigenous Australian women have poor maternal health; higher rates of chronic diseases, poor nutrition and high level of urinary tract infection that contribute to pregnancy complications. Moreover, Mellor, et al., (2015) felt that, these people are facing a challenge to access primary health care because of distance and most of them live in remote areas. They also have a problem of chronic health conditions that require a range of services but not affordable. Lastly, culture contributes to poor access of healthcare services through language barrier; gender based cultural practices and ideals. The health burden among Indigenous people arises in non-remote areas since majority of them reside in non-remote areas (Vos, et al., 2009). Social and emotional wellbeing among indigenous Australians is demonstrated by a number of ways. They are traumatized by abuse, domestic violence family breakdown, cultural dislocation, racism and discrimination, rejection by family social disadvantages and drug and substance abuse. They also have psychological distress, a problem...
Words: 718 - Pages: 3
