...Purchasing Australian Made Goods and its Effect on Our Economy ABSTRACT The purpose of this essay is to analyse the effects of purchasing Australian made goods on the Australian economy in relation to determining the degree to which it is advantageous. The research concludes that in fact it is far more beneficial for consumers to purchase goods unbiasedly. The economic theory of a comparative advantage denotes that a country should aim to specialise its production as to channel resources efficiently and achieve economies of scale nationally. The increasing trend in globalisation has meant an increase in the availability of goods and services increasing our Gross Domestic Product (GDP) through benefiting from increased trade and maxamising on the benefits of fluctuations in the international business cycle. The gains from free trade agreements such as advances in technology and capital equipment have effectively made Australian production far more efficient. In combination, they provide a sufficient argument to conclude that purchasing goods unbiasedly is far healthier for the economy than strictly purchasing Australian made goods. Key Words: Globalisation, Comparative Advantage, Free Trade, Economies of Scale, Economic Growth, Production Introduction As more countries move toward a market capitalist model, a broader range of substitute goods become available, and this increase in choice between substitute goods proves a time consuming issue for the average consumer...
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... The East Asia’ Regional Economic Integration In the past twenty years, the East Asian economies realized the freedom of foreign trade and direct investment (FDI) because of the influence of GATT/WTO and APEC and as a result, it further promotes the economic growth of East Asia. The mutual economic dependence of each countries has increased a lot and therefore, close economic cooperation among Asian countries is necessary for healthy economic development. Many countries try to deepen their cooperation by establishing agreement and carrying out negotiation or discussion (Kawai 2004). Besides, the East Asian countries want to have their own institutions where they have vital voice in decision making after the financial crisis. As a consequence, the regional economic integration become an inevitable trend. The structure of this essay is organized as follows. The first part of this essay will discuss the driving forces of East Asia’s regional economic integration, including the failure of the WTO and APEC, and the financial crisis. The second part will illustrate how regional organizations of East Asia are developed in aspect of trade cooperation and financial cooperation and then followed by the difficulties in creating a regional economic union, such as the resistance from the United States and the great...
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...Students from non-English speaking backgrounds can bring unmarked non-electronic translation dictionaries Candidates must answer ALL questions Q1 (10 marks), Q2 (10 marks) This paper has THREE pages, including this one. Question 1 – very brief answers please 1) Globalisation refers to the process of moving towards a more integrated and inter-dependent world economy. What are two main drivers of globalisation? (1 mark) 2) Suppose that prior to NAFTA the USA produced its own textiles at a higher cost than Mexico, but imports them from Mexico after NAFTA. Is the USA worse off or better off? Is this a case of trade diversion or trade creation? (1 mark) 3) Suppose the USA had 20% duty on all imported textiles before NAFTA and it imported its textiles from China. After NAFTA, it imports from Mexico. Is there any trade diversion? (1 mark) 4) The USA has a highly skilled labour force and has lots of capital. China has a lot of cheap, unskilled labour compared with the USA. A fellow student, David, tells you that according to the Ricardian model of comparative advantage based on productivity/technology differences the USA should produce and export jet aircraft, while China should produce and export textiles. Another student, Chris, tells you that the statement is based on the Heckscher-Ohlin model based on relative factor endowments, rather than the Ricardo’s model. Who is right, David or Chris? (1 mark) 5) Photocopiers were first developed...
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...In the context of IPE, what is globalisation? To what extent has the authority of nation states been eroded by globalisation? Discuss with reference to any OECD country. IPE and Globalisation In order to explain globalisation in the context of International Political Economy (IPE), I will begin by discussing the frameworks that IPE uses to describe the social constructs upon which human society is based. This discussion will then extend to issues pertinent to the essay question, including the concepts of globalisation, the nation state, authority and sovereignty, and the extent to which a nation state’s participation in a globally interdependent system influences that nation state’s authority. IPE connotes a multidisciplinary method of enquiry to explain the ever-changing relationships between states, markets and societies across history and in different geographical areas. IPE includes a political dimension that accounts for the use of power by a variety of actors including individuals, domestic groups, states, international organisations, NGO’s, and transnational corporations. IPE also involves an economic dimension that deals with how scarce resources are distributed among individuals, groups and nation-states. (Ballam and Dillman, 2011, p7) To place globalisation within the context of IPE, one must view the concept in terms of the causes and effects of the world market economy, the relationship between 2 economic and political change, and the significance...
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...Introduction 4 Economic Integration: Definition 5 Background of Free Trade in the South Pacific 6 PICTA 7 PACER 7 Advantages and benefits of Economic Integration 9 Drawbacks of Regional Economic Trade 11 Resolution 15 Conclusion 17 Bibliography 18 Appendices 19 Declaration of Originality We declare that this is our original work and all borrowed works had been cited and referenced. s11061729 Elizabeth Pearl Blakelock s11074679 Ranjeeta Devi s93005349 Mosese Vosarogo Acknowledgement We acknowledge our Instructor Mr Atishwar Pandaram for for the learning, Mr William Kurt of Cost-U-Less for allowing us time to interview him and for the valuable information and also Mr Aslam Janiff of Kundan Singh Supermarket and Andrew Powell Rajendras FoodTown Supermarket for giving their time to attend to us. Introduction In this project, we will attempt to highlight the implications of free trade amongst the south pacific island countries that are under the auspices of the 'The Pacific Islands Forum'. PIF is an inter-governmental organization that aims to enhance cooperation between the independent countries of the Pacific Ocean. Member countries are: Australia, New Zealand, Cook Islands, Fiji, Federated States of Micronesia (FSM)...
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...Name: Jane Holman Student Number: 220034259 Unit: MM 302 Assignment: Assignment one - essay Due Date: 20 August 2010 0 Introduction The following report goes into detail about the governments involved in a market economy, the government influences four main areas in the economy which are; enforcing antitrust laws, preserving property rights, providing a stable fiscal and monetary environment and preserving political stability. Also the report will cover why there can never be a truly ‘free market’ economy, where there is absolutely no government intervention. Market Economy In a market economy, the majority of a nation’s land, factories, and other economic resources are privately owned, either by individuals or businesses (Wild, Wild & Han 2010:151). It is also an economy in which prices of goods and services are freely set based on the laws of supply and demand which are unfettered by interference from a government or other outside bodies. A market economy at its basic is an economy run entirely by the market itself (McGuigan 2003:1). In contrast to a market economy is one which follows the Keynesian principals which is an economic theory which advocates government intervention, or demand side management of economy by increasing money supply or by actually buying things on the market itself, they believe that this will achieve full employment and stable prices (Web finance 2010:1). Market economy has come to be accepted as a norm across the world with many developing...
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...both sides of the issue Language Summary: ways of showing that you are aware of the opposing opinion Working out the main premise from a paragraph Using connectives and problematising phrases in a paragraph Putting together a paragraph for an argumentative text Choosing your own premise and writing a paragraph Converting an informal text into a formal text Sorting arguments into topics and paragraphs A longer model argumentative essay Getting an overview of the model essay Identifying the main premise, paragraph structure and paragraph topics The internal organisation of the paragraphs - revision Including a paragraph that only presents supporting arguments Writing introductions to argumentative essays Writing conclusions to argumentative essays Writing your own argumentative essay - 13 steps to take from start to finish Appendix 1. Language summary: structure of paragraphs in the body of an argumentative essay Introduction Welcome to Writing Argumentative Essays, a unit of curriculum which aims to teach students how to write short argumentative essays of...
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...Research Essay 3000 words Globalisation presents significant opportunities and challenges for business around the world. Are the environmental challenges and ethical dilemmas Fisher & Paykel currently face outsourcing manufacturing to a developing country beneficial to Australia? Globalisation can be described as the intertwining processes of the world. It is not only an economic process, which involves rising communication and integration of all countries’ economies through the growth in international trade and investment, but also the rapid cultural, social, technological and industrial exchange between nations (IYP, 2002, p. 11). Globalisation presents significant opportunities, as well as many challenges, for business around the globe. Many companies are currently making the decision to move production offshore to lower expenditure and increase profits. However, there are numerous environmental challenges, as well as ethical dilemmas involved with outsourcing. Throughout this essay I will show how globalisation is connected with the present issue of New Zealand’s ‘Fisher & Paykel’ (F&P) Brisbane plant outsourcing manufacturing of their whitegoods to Thailand. Shown by exploring the reasons and challenges involved both in the business environment and ethical arena. Such ethical issues under scrutiny at present are the loss of Australian jobs and the replacement of low wage employment offshore. After the analysis of various sources of information, it will be clear that the...
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...3/30/2016 Expertly Written Sample Assignment on Demand and Supply Concept Order Now Login/Signup Search for Question, Subject, Course Name SERVICES » Free Samples » Demand and Supply of Certain Resources in Australia and Factors Other Than Price Which Affect Demand and Supply Demand and Supply of Certain Resources in Australia and Factors Other Than Price Which Affect Demand and Supply Question- How Demand and supply of certain resources in Australia and factors other than price which affect demand and supply? Contents Introduction Mechanism of Demand and Supply Analysis of demand and supply of certain resources of Australian Market: Conclusion Refrences Introduction Demand and supply are two important tools of micro economic analysis. Demand refers to how much quantity of a product is desired and purchased by a buyer at a given pricehttps://myassignmenthelp.com/freesamples/demandandsupplyofcertainresourcesinaustraliaandfactorsotherthanpricewhichaffectdemandand… 1/6 3/30/2016 Expertly Written Sample Assignment on Demand and Supply Concept level, where supply of a product represents how much quantity of a product that a market can offer at a given price-level. Demand and supply of a product depends on different factors. Demand of a product (suppose, X) depends on the price of that product (PX), price of the related commodities, consumers’ income, population or number of consumer, test and preferences of consumers...
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...Essay draft Andre Clayton- 1305719 Academic Writing 2 Wednesdays 2:00-5:00 PM October 4th 2015 Lecturer: Ms. Daidrah Smith University of Technology Jamaica Essay Draft Is water a free and basic human right, or should all the water on the planet belong to major corporations and be treated like a product? Should the poor who cannot afford to pay these said corporations suffer from starvation due to their lack of financial wealth? Water Privatization refers to the transfer of ownership of water resources from the public sector to the private sector. Countries such as Australia, Canada, Argentina and Britain all have private water supplies and are facing numeric challenges such as a lack of access to clean water, corruption in the process and a reduction in local control and public rights. Should Jamaica be allowed to go through the same problems these countries face? Water is a fundamental human right and should be available to all the people of the world for little or nothing. Due to it being a human right Jamaica’s water supply should not be privatized as privatization may lead to rate increases and poor water quality. Firstly, Privatization of Jamaica’s water supply would lead to rate increases. Over the years Private corporations increase rates to increase and boost their profits for which they are accountable to shareholders not to consumers. This would lead to customers paying more for water supply on their monthly bill since the private entity recovers its investment...
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...MPF53 FINANCE “Review the proposed Carbon Pollution Reduction Scheme (CPRS) in Australia and critique its impact on financial management decisions” BY Xiao Nie Yang Song Date: 20th April 2010 Introduction In today’s society, all countries in the world will experience climate change in coming decades because of increasing carbon pollution (climate change 2007). In order to reduce the carbon pollution, ETS and CPRS will be proposed in the world wide and Australia. This essay is to focus on revising the proposed carbon pollution reduction scheme and point out its impact on financial management decision. In the first place, there is a brief summary about the CPRS scheme in detail. In the second place, there is an analysis about major and minor financial management decisions. In the final place, the impacts of CPRS on its financial management decision will be raised. All in all, the conclusion is a summary of the aim of the essay and how to achieve this aim. The CPRS scheme The emissions trading scheme (ETS) in Australia is called Carbon Pollution Reduction Scheme (CPRS). Australia is very vulnerable to the effects of climate change. They recognize that human activity is causing the climate change and also Australia is one of the biggest polluters on a per capita basis. The CPRS will help reduce Australia’s carbon pollution by putting a price on carbon for the first time in Australia’s history. The carbon price means that goods that...
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...Should the Australian Government provide money to car manufacturers to prevent them from moving their operations overseas? Discuss, drawing on contemporary debates about this issue in the news media. Introduction Car manufacturing in Australia was one of the strongest sector in the Australian economy. Within the past few months and ongoing weeks, there are several news being published that the Australian car manufacturing sector has become so small that that each car company is relying on the survival of the other. In relation to the debates and media news, this essay demonstrates, as to whether the Government should provide funds to car manufactures to prevent them operating overseas. The news has been all over the place that the three main car manufacturers, Toyota, Holden and Ford are expected to shut down their operations in Australia in the coming Years. The local content of the Australian made cars is in decline. According to figures supplied by the car makers, 30% of the parts to make Holden Cruise was sourced locally and 50% was Commodore. To survive beyond current models, car manufactures were going to be forced to rely more on foreign parts to keep the costs down. Due to low sales and low cost sales, the three manufactures are shutting down to recover from the massive financial losses and start making a profit. The data illustrates that the three factories have lost more than 1.5 billion dollars on their local manufacturing operations over the past decade...
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...------------------------------------------------- Employment relations essay “Management should have the right to determine whether a union should operate within their workplace” Discuss. Due April 27, 9AM By cassidy Eastabrook 2171192 Due April 27, 9AM By cassidy Eastabrook 2171192 Introduction Unions have been a heavily debated topic in Australian workplaces for decades. Some see unions as unnecessary evils, interfering with employee obedience and trustworthiness, the overall employment relationship and an organisation’s practices. On the contrary, many other employers and employees see unions as a channel for collective bargaining and better employee representation. Throughout the years of debates one question has remained prominent, “Should management be able to dictate whether or not a union should function within their workplace?”. This question is, of course, controversial resulting in their being no clear cut answer. On one hand, some may argue that should management have this right, organisations may experience increased managerial prerogative, boosted productivity and performance and decreased levels of conflict. However, on the other hand, critics disagree, stating that whilst this may be the case, the overall wellbeing of employees will suffer as they are taken advantage of through individual contracting. This essay aims to delve into both perspectives; the perspective of management and the perspective of the employee and identify more clearly the benefits...
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...performed by a living donor. Some people think mandatory law is necessary because that can help people and reduce of black market, where sales illegal organs. However, some other ones disapprove that because of their rights be violated and their families want to keep the body completely. Both sides of this complex issue will be discussed in this essay. The most important reason of donation organs after die is that can help many people, even if maybe can save or improve their life. In 2013, 34 deceased South Australians donors, who contribute to the Australia wide total of 319 whose generosity benefited 1122 recipients, which means one donor can help not only one person but also several people. According to the Australia Advertise news, there are 1500 people are on Australian organ transplant waiting lists at any one time. Moreover, people have some milestone in transplantation. For examples, the first successful kidney transplant from a deceased donor at Queen Elizabeth hospital, Adelaide, Australia in 1985 and first living donor islet transplant in Japan in 2005,… In addition, organs donation can reduce the number of global body parts trade. A lack of donated organs and tissues is causing to a serious increase in the black market, where sales illegal body parts. Some countries like China, Colombia, Egypt, Pakistan and Philippines, which have prosperous market in human body parts. Following the Breaking...
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...predominant in Western society since the 19th century, with cannabis introduced to the United States in 1839, while opium was introduced to Europe and the United States through trade with China. These drugs were initially used for pharmaceutical benefits, but over time various legislatures introduced laws to administer, regulate and prohibit the use of various drugs. The declaration of ‘war on drugs’ took place in the United States of America (USA) in 1971. The historical response to the ‘war on drugs’ has been prohibition: the complete banning of drug use. This approach, which involves strict enforcement of illegal drug laws, has proven costly and ineffective (RCAP & RANZCP, 2004). This essay will focus on Australia’s current drug debate regarding the legalisation of certain prohibited illicit drugs. Whilst examining the Australian position, this essay will use international examples to illustrate how the current strategy fails and survey workable solutions. Firstly, this work examines the historical position of the ‘war on drugs’. It will outline the history of drug use in Australia and the nation’s current drug policy. This essay will then discuss the criminal, social, health and policy issues surrounding the debate regarding the legalization versus prohibition. Having addressed these points this essay concludes the prohibition of certain illicit drugs has failed comprehensively and legalising, controlling and regulating drugs should be the new Australian drug policy. ...
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