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Current Condition of Australian Economy

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Added on  2020-03-28

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Introduction: 3 Analysis 3 Australian Economy 5 Australian Policy Framework 8 Conclusion: 8 References 9 Introduction: Market dynamics are mainly determined by demand and supply of the market and their changes with respect to price and quantity. Thus market is driven by chief forces which are demand and supply and for a market to reach equilibrium equilibrium these two has to reach a stable point, thus equilibrium is a point where demand of the economy equal supply of the economy.

Current Condition of Australian Economy

   Added on 2020-03-28

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Running head: ECONOMICS FOR BUSINESS Economics for BusinessName of the StudentName of the UniversityAuthor Note
Current Condition of Australian Economy_1
1ECONOMICS FOR BUSINESS Executive summaryThe study mainly aims to explore current condition of Australian economy. For assessingthe condition study considered the GDP level and inflation rate of the country. Results suggest that economy is in stable stable position also the stabilizers of the country helps the country to restore its equilibrium back.
Current Condition of Australian Economy_2
2ECONOMICS FOR BUSINESS Table of ContentsIntroduction:....................................................................................................................................3Analysis...........................................................................................................................................3Australian Economy....................................................................................................................5Australian Policy Framework......................................................................................................8Conclusion:......................................................................................................................................8References........................................................................................................................................9
Current Condition of Australian Economy_3
3ECONOMICS FOR BUSINESS Introduction: Market dynamics are mainly determined by demand and supply of the market and theirchanges with respect to price and quantity. Thus market is driven by chief forces which aredemand and supply and for a market to reach equilibrium these two has to reach a stable point,thus equilibrium is a point where demand of the economy equal supply of the economy.However, if equilibrium is unstable then several factors work together to reach the stableequilibrium point, and for this equilibrium is automatically restored. The purpose of this report isto explore whether Australian economy currently is in stable equilibrium position or not. Thisstability of the economy is determined by considering both macroeconomic perspective andmicroeconomic perspective.AnalysisIn an economy stability reached at the point of equilibrium and this equilibrium is asubject matter of demand and supply of the economy (Yang & Ng, 2015). Demand comes fromthe buyers end and supply comes from the sellers end, and when a quantity demanded is met byquantity supplied then market equilibrium is reached. Microeconomic perspective is shownbelow in figure 1.
Current Condition of Australian Economy_4

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