Report On Reforms In Australian Economy

Added on -2020-02-17

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Economics
Table of ContentsINTRODUCTION................................................................................................................................3ECONOMIC ANALYSES....................................................................................................................3RECOMMENDATION........................................................................................................................4CONCLUSION....................................................................................................................................5REFERENCES.....................................................................................................................................6
INTRODUCTIONEconomics played a prominent role in the growth and development of the country. There arevarious tools and techniques in the economics which can be used by the cited business organizationin an appropriate manner. The present report is based on reforms in education, meat industry,agriculture sector and tourism industry in Australian economy. The role of this sectors in the growthand other economic aspects in that country having a great significant. It can help to attain their longterm goals and objectives in an appropriate manner(Jackson and Senker, 2011). ECONOMIC ANALYSESEconomic analysis is the term which determine the overall economic condition of the country by identifying the appropriate usage of all the resources. In fact economic analysis explains the overall description about recent market by adopting various effective methods to identify the upcoming riskand challenges which may occur while manufacturing a product at international level. There is a lots of challenges and obstacles which may occurred while overall economic analysis of the production process (Schumacher, 2011). High wage rate :- High wage rate is one of the major drawback which comes out due to the economic analysis of the industry occurred in a large number which influenced the overall organization. In fact high wage rate is the term which describes the accurate condition of the country with the help of various effective research methods to acquire appropriate information and data (Norsker and et. al 2011). Industrial reforms:- Industrial reforms describes the necessary changes which is indispensable for the betterment of the organization to improve the current condition by adopting various effective strategies with appropriate planning to reduce the upcoming risk and challenges by hedge all the economic risk. Apart from this industrial reforms are somehow happened because of the various essentials reason. To improve the current situation of the industry. To implement the new and innovative programs to eradicate the worst condition of the society due to the various drawbacks of economic. Appropriate utilisation of all the resources without exploiting the existing resources which may be very indispensable for the industrial reforms. To expand the existing business of a cited industry by adopting new and unique methods of performing the business task and activities (Newbold, Carlson and Thorne, 2012). Lack of demand :- Lack of demand states the shortage of demand of a product in the market which creates a problems of production in the industry. In fact production process is depend on the demand in the market which means there is a positive relationship between demand and production

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