Demand and Supply of Resources in Australia

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Economic concepts of demand and supply

Factors that affects supply of Australia resources

 

SKU: ECO302121

Choose any One of the topics from the following list:

  • Micro economics – study of individual behaviour – individual industry like education, meat industry, tourism and agriculture. Choose any ONE industry in Australia from this list and discuss the reforms been done in that industry.
  • Cost of production- in any industry in Australia where costs of production are an important issue and analyse what is being done in the industry. May be the industry is switching to technology or/and some substitutes have been used to overcome this problem !
  • Demand and supply of certain resources in Australia  and factors other than price which affect demand and supply
  • Market structures like Monopoly, Duopoly, Oligopoly and Monopolistic competition in any industry in Australia.

Evaluate the article using Economic concepts. You should include:

  • The essence of the story : Introduce the issue, who is interested in it and why.
  • The economic analysis: Explain how you can present the issue in terms of economic concepts and theories you have learnt in class.
  • Explain your view : Explain what actions you would recommend to the key players and/or policy holders.
  • Explain how the above analysis supports your conclusion

You may provide graphs/charts/diagrams where necessary to enhance your presentation style.

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