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The monopoly market structure of the Australia Post
The market structure of monopoly is usually characterized by one seller who sells a unique commodity or provides a service in the market. In case of the monopoly market, the seller usually faces no competition. The reason behind this is that he is the only seller of the services or commodities with no other close substitutes. In this type of market structure factors such as ownership...
Macroeconomic equilibrium in the economy is that state where the supply of the economy equal the demand of the of tee economy. The changes in the variable of macro economy will be having an impact on the rate of unemployment, price and also on the rate of inflation. The variables of macro economy is known to affect a large population and is also related to the economy at the national level. T...
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There were incidents of oversupply and underutilization of train wagons which lead to the implementation of the TOPS system. There has been also economic crisis faced by the British freight which resulted due to the competition from road haulage. As a result of manual conversation, much of the information had been inaccurate as a result of manipulation of information by the supervisors. The senior operations management were al...
In the economic conceptual framework, the term “market” refers to the place of interaction of the buyers and the sellers of goods and services in an economy, the former representing the demand side and the latter representing the supply side. The situation reached by their mutual agreement is known as the “equilibrium” situation, from which none of the sellers or the buyers have any incentive...
Starting at 2019, the measure of total national output (GDP) of Australia was $1.89 trillion. Thus, the nation with blended financial market structure has grown fundamentally after Switzerland. The nation has effectively kept up its monetary development for over an extensive stretch with a steady value level, low degree of joblessness and a slower pace of intrigue. The Global Financial Crisis (GFC) of 2009 can't influen...
The Australian government has increased the excise rate of tobacco by 12.5% as at 1st January, 2018 (Health.gov.au, 2018). Hence, the producer has charged the price of a standard 20 packet of cigarettes including this tax rate.
Here, the price of a standard packet of cigarette is $ 30 including 12.5% tax rate.
Let, the before tax price of a standard packet of cigarette is $ X.
Hence, after imposition of tax, this pric...
Unemployment rate of the Australian economy has been facing various fluctuations over the year. As per the figure 1, unemployment rate has been highest during the 2001 and the unemployment rate has been lowest during 2008. Next to this, unemployment level has risen again.
Figure 1: unemployment rate of Australian economy
Source: (Created by author)
Considering the figure 2, it can be seen that there has much amoun...
Relation between inflation and Unemployment
The interconnectedness of macroeconomic variables has long standing implication for economic policy formulation. Two such interconnected variables are inflation and unemployment. Both are important indicators in determining economic state of a nation. Inflation is a measure of general price level. It is computed as percentage change in price of a certain basket of goods needed to m...
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