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ECO511 Economics for Business Assignment

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Charles Sturt University

   

Economics for Business (ECO511)

   

Added on  2020-02-19

ECO511 Economics for Business Assignment

   

Charles Sturt University

   

Economics for Business (ECO511)

   Added on 2020-02-19

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Running head: BUSINESS ECONOMICSBUSINESS ECONOMICSName of the StudentName of the UniversityAuthors Note
ECO511 Economics for Business Assignment_1
1BUSINESS ECONOMICSTable of ContentsIntroduction......................................................................................................................................2Stable economic Equilibrium..........................................................................................................2Economic Stability for the Australian Economy.............................................................................5Economic stabilization instrument..................................................................................................6Conclusion.......................................................................................................................................7References........................................................................................................................................9
ECO511 Economics for Business Assignment_2
2BUSINESS ECONOMICSIntroductionThe objective of this study is to analyze about whether the Australian economy is presently atstable equilibrium. Equilibrium in the free market is attained when the demand as well as supplycondition in the market is equivalent with each other. Stable equilibrium is said to occur if thevariation from equilibrium condition reinstate equilibrium. In this assignment, the stableequilibrium is illustrated by using demand and supply concept. The insinuation of stabilizationfor one market and the entire economy is taken into consideration. As Australia is a capitalistnation, it relies hugely on market economy. This nation manages in maintaining stable state andhence Australian government intervenes in order to stabilize the economy.Stable economic EquilibriumStable economic equilibrium is explained with the help of the diagram given below. In thisfigure, the demand curve is shown as DD curve and supply curve is shown as SS curve. Theequilibrium in the economy occurs at the point E when the demand curve meets the supplycurve. However, in correspondence with the equilibrium point, the equilibrium price is attainedshown as P and equilibrium quantity is obtained that is shown as Q. However, if movementoccurs from the equilibrium point brings back the equilibrium , then this initial equilibrium pointis termed as stable equilibrium.
ECO511 Economics for Business Assignment_3

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