Microeconomic Analysis

Running head: MICROECONOMIC ANALYSIS
Microeconomic Analysis
Name of the University
Name of the Student
Author Note

MICROECONOMIC ANALYSIS
1
Table of Contents
Answer a..........................................................................................................................................2
Answer b..........................................................................................................................................2
References........................................................................................................................................6

MICROECONOMIC ANALYSIS
2
Answer a
After Switzerland, Australia is the second greatest economy of the world regarding
average wealth owned per adult. It has the biggest mixed market (dual economy) accounting a
total GDP (Gross Domestic Product) of about Australian $1.69 trillion in 2017. Several
Australian industries have played key role in making the country a leading and top most
economy. The major industries include Service Industry, Retail Industry, Tourism Industry,
Healthcare Industry, Media and Entertainment Industry, Finance Industry, Mining Industry and
other industries. Among all these significant Australian Industries, the Retail Trade Industry of
Australia is chosen for framing the report as asked by the manager for his investment decision as
it covers almost 34% of the total industry distribution percentage of Australia (Price 2016).
There exists around 140 thousand retail business covering 4.1% of GDP and generating 10.7% of
total employment (Sutton-Brady, Kamvounias and Taylor 2015). The top 10 retail companies of
the country include Aldi, Big W, Bunning Warehouse, Chemist Warehouse, Cotton On, Dan
Murphy’s, David Jones, EB Games, Harvey Norman and IKEA (retail.org.au. 2019). The retail
industry of the country has undergone a huge number of competitive challenges in the past. The
online retailing as well as the entrance of the new innovative global retailers are simply the
latest. The Australian retail industry exhibits a great diversity in terms of the nature of the
products sold, business size, retail format, and level of competition within the sector and so on.
Hence, the Australian retail trade industry is selected for preparing the given analytical report.
Answer b
In order to analyze the sales trends of the Australian retail trade industry, the sales related
data of the industry for years 2017 and 2018 are considered. First the analysis of the monthly