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Economics Assignment | Economic Analysis Assignment

   

Added on  2020-06-04

8 Pages1410 Words69 Views
ECONOMY ANALYSIS

Table of ContentsINTRODUCTION...........................................................................................................................1ANALYSIS......................................................................................................................................1Stable economic equilibrium .................................................................................................1The stability of the Australian economy................................................................................2Intervention of government in the creation and distribution of income.................................3Critical analysis of the Australian economy...........................................................................4CONCLUSION ...............................................................................................................................4REFERENCES ...............................................................................................................................6

INTRODUCTIONEconomics is wide concept which recognizes manufacturing goods and services, transferof wealth and supply and demand in the environment. Economics is a broad study of twoenvironment, micro and macro. The study in this environment will focus on the macro economicvariables and concepts. The analysis of the Australian economic will be based on the elements ofthe macro economic environment (Shahbaz, Shamim and Aamir, 2010). The environmentincludes GDP, interest rate, concept of inflation and deflation rates, unemployment rate etc.Moreover, the assignment will focus on the importance of government intervention in thedistribution and creation of wealth in the country. Also, it will discuss about the different factorsthat can be used to evaluate the performance of the economy. A discussion of the concept ofeconomic equilibrium. Besides that, the prime intent of the assignment is to evaluate theeconomic conditions of Australian economy and suggest policies to support the economy. ANALYSISStable economic equilibrium A stable equilibrium is considered to achieved when the economy of a country is inconstant growth and experiences positive changes from the previous year. The concept isdependent on two factors, demand and supply of goods and services. Equilibrium is said to be inplace when these two factors are equal in their value in the economy. Any hike or depletion ineither of the two factors cause a change in the state of equilibrium, and this may have anaffirmative or adverse effect on the growth of the economy. The disturbance in the economicgrowth may cause a serious change in the condition of the same economy1

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