country
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Conference On Cloud Computing And Services Science

tag 0 Download5 Pages / 1,217 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Question:

Discuss about the Conference on Cloud Computing and Services Science.
 
 

Answer:

Introduction:

In macroeconomic analysis demand and supply forms the most vital tool. Demand can be defined as the quantity demanded for product or services, which is purchased by the buyer for a certain level of price. This signifies that the supply of goods with the quantity demanded for the goods in the market can be offered for a given level of price (Baumeister and Peersman 2013). The present essay is concerned with the Australian oil and gas market by denoting the factors that affect the demand and supply of oil and gas.

The eastern region of the Australian oil and gas market is irrevocable associated with the internal gas market. With increasing amount of uncertainty, the LNG market of Australia is facing excess supply capacity. Short run netbacks, aggressive competition and cost of new supply are the set of factors that determines the domestic prices. To extend support to the Australian industry making investment in new supply and production size is considered vital. Despite the growing prices of crude oil, the demand for it has been constantly increasing over the years and it will continue to increase in the coming years as well. Therefore, the annual increase in the demand of the consumer products is due to the rise in non-availability of cheap alternatives. Thus, both consumer and business are expected to be acting in their self-interest.

Several factors mainly depend upon the demand and supply of products. The demand and supply for oil and gas industry is largely dependent on the price of the commodity, income of consumers, number of customers, taste and preference and price of related commodities (Cully, Thomas and Whitelaw 2017). Simultaneously, the supply of oil and gas is reliant on the price of product such as cost of factors of production, future price expectations, cost of production etc. A detailed analysis is performed on the mechanism of the demand and supply of oil and gas industry prior to considering the demand and supply in Australia along with factors other than price affecting the demand and supply.

There are numerous resources in Australia such as mining resources, agricultural resources and natural resources but the demand and supply of these resources are regarded to be identical (Qanbari et al. 2015). There is a difference between the two components due to the exogenous factors of economy that reflects different outcome in the analysis of demand and supply of oil and gas. For example considering the illustration of Eastern oil and gas market of Australia there exists a asymmetrical choices in the theory of demand and supply.

Following the period f 1990s, huge development was made in the large-scale export of oil and gas. With the passage of time both the demand and supply of Australian gas market have increased. For instance, taking into the considerations the Bowen Surat gas fields in Australia it was noticed that the supply of LNG gas from the field was not obtainable in the Australian domestic market (Stoeglehner et al. 2016). No common reason was depicted in the declining supply of LNG and the occurrence of such situation was entirely due to the external reasons. During the phase of twelve of years gases generated from the Bowen Surat gas field in Australia contracted to LNG export. Although the resources were enough to satisfy the supply of eastern reserve with no lack of demand, the market witnessed a deficit in the supply of gases.

 

The drivers of domestic gas are expected to change during the stage of production as the domestic gas prices is expected to disassociate from the long run price of LNG net back. Simultaneously, in the short run netback the cost of supply and competitive circumstances are forecasted to set the domestic price of LNG manufacturers in the domestic market (Rios,  McConnell and Brue 2013). The macro-economic demand factors influencing the supply and price of oil and natural resources is anticipated to affect the quantity demanded for the product. Furthermore, each of these factors is expected to cause a shift in the demand curve. Considering the law of demand, if the demand factors leads to an increase in demand then  the demand curve will shift towards the right side. Alternatively, if the demand factors leads to fall in demand the it will cause the demand curve shift towards the right side (Daniel 2014.). The most significant factors affecting the demand for goods and service comprises of disposable income, price of substitute commodities, changes in rate of interest and population growth forms the most significant determinant of demand and supply.

With the growth in population, there will be significant need for energy consumption and it is not surprising that demand for natural resources will increase over the years. Only few substitute might be used in its place for the commodity in question. It is worth mentioning that downward sloping of demand curve is primarily related to the increase in the price of natural resources. Studies have indicated that the extent of likely energy demand in future concerning the long-term outlook seemed to be undefined however; natural gas forms the best possible alternative among the non-renewable resources (Makowski et al. 2017). The consumption of natural gas will continue that might force consumer to shift to alternative products such as coal and oil. This will lead to fall in demand and will ultimately lead to shift in demand curve since consumers have shifted towards economical mode of energy consumption.  

Conclusion:

Several treasurers have asserted that Australian economy has continued to experience growth over the past 25 years. The essay depicts that the demand and supply of the commodity is not dependent on the price of the commodity but also on the endogenous and exogenous factors as well. . It is noteworthy to denote that introduction of new export market for Australian oil and gas products has significantly contributed to the growth present economy. However, such series of economic reformation has required actual investment and activities to occur.

 

Reference list:

Baumeister, C. and Peersman, G., 2013. The role of time?varying price elasticities in accounting for volatility changes in the crude oil market. Journal of Applied Econometrics, 28(7), pp.1087-1109.

Cully M., Thomas N. and  Whitelaw D., (2017). [online] Available at: https://industry.gov.au/Office-of-the-Chief-Economist/Events/Presentations/Documents/Factors%20influencing%20Australias%20gas%20supply%20and%20demand%20-%20speech.pdf [Accessed 24 Apr. 2017].

Daniel, V., 2014. Demand and Supply: Case study. Docs. school Publications.

Makowski, M., Piotrowski, E.W., S?adkowski, J. and Syska, J., 2017. Profit intensity and cases of non-compliance with the law of demand/supply. Physica A: Statistical Mechanics and its Applications.

Qanbari, S., Li, F., Dustdar, S. and Dai, T.S., 2015, April. An Economic Model for Utilizing Cloud Computing Resources via Pricing Elasticity of Demand and Supply. In International Conference on Cloud Computing and Services Science (pp. 47-62). Springer International Publishing.

Rios, M.C., McConnell, C.R. and Brue, S.L., 2013. Economics: Principles, problems, and policies. McGraw-Hill.

Stoeglehner, G., Narodoslawsky, M., Erker, S. and Neugebauer, G., 2016. System Interrelations Between Spatial Structures, Energy Demand, and Energy Supply. In Integrated Spatial and Energy Planning (pp. 11-34). Springer International Publishing.

Witt, U. ed., 2013. Escaping Satiation: The Demand side of economic growth. Springer Science & Business Media.

Download Sample

Get 100% money back after download, simply upload your unique content* of similar no. of pages or more. We verify your content and once successfully verified 100% value credited to your wallet within 7 days.

Upload Unique Document

Document Under Evaluation

Get Credits into Your Wallet

*The content must not be available online or in our existing Database to qualify as unique.

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2018). Conference On Cloud Computing And Services Science. Retrieved from https://myassignmenthelp.com/free-samples/conference-on-cloud-computing-and-services-science.

"Conference On Cloud Computing And Services Science." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/conference-on-cloud-computing-and-services-science.

My Assignment Help (2018) Conference On Cloud Computing And Services Science [Online]. Available from: https://myassignmenthelp.com/free-samples/conference-on-cloud-computing-and-services-science
[Accessed 02 July 2020].

My Assignment Help. 'Conference On Cloud Computing And Services Science' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/conference-on-cloud-computing-and-services-science> accessed 02 July 2020.

My Assignment Help. Conference On Cloud Computing And Services Science [Internet]. My Assignment Help. 2018 [cited 02 July 2020]. Available from: https://myassignmenthelp.com/free-samples/conference-on-cloud-computing-and-services-science.


MyAssignmenthelp.com has become one of the leading assignment help provider in New York City and Boston. We provide top class auditing assignment help. Not only auditing, but we also cover more than 100 subjects and our writers deal with all types of assignments with utmost expertise. To make writing process faster and accurate, we have segmented our assignment experts' teams as per their expertise on writing different types of assignments. We guaranteed that students who buy our assignment online get solutions worth their investment.

Latest Economics Samples

ECF3120 Consumer Economics

Download : 0 | Pages : 7
  • Course Code: ECF3120
  • University: Monash University
  • Country: Australia

Answer: Background of the study The topic for the proposal is the apparel consumption in Australia. The rise in online apparel retailing is taking away the profits of the local retail apparel shops in Australia. The apparel retail comprise of the sale of women’s, men’s and infant’s wear. The revenue growth from the online retail business is about 15.1 percent which is a threat for the local retailers as customers are shiftin...

Read More arrow Tags: Australia 6 Consumer Economics Monash University 

HI5003 Economics For Business 34

Download : 0 | Pages : 3

Answer: 1. (A) Name of point B is inefficient. Name of point A is efficient. Name of point D is unattainable. 10 units of machinery is the opportunity cost of producing 10, 000 more tons of rice when the economy of Nepal is operating at point T. (B) (B1) Discovery of fertilizer would increase the output of rise given the amount of other things will take the economy of Nepal to PPF2. (B2) Discovery of steel would increase the production of ...

Read More arrow Tags: Australia 6 economics for business Holmes Institute 

POLI1095 Evidence Policy And Practice

Download : 0 | Pages : 6
  • Course Code: POLI1095
  • University: Royal Melbourne Institute Of Technology
  • Country: Australia

Answer: Impact of COVID-19 on the Australian economy Australia is renowned as the fourteenth largest economy in the world that has the total Gross Domestic Product of about 1.69 trillion Australian dollars in 2019. It follows a mixed market economy which is one of the most developed in the world. The economy has already faced an economic loss due to the bush fire that took place in the beginning of 2020 and had been struggled to balance its e...

Read More arrow Tags: Australia 6 Evidence  Policy and Practice Royal Melbourne Institute of Technology 

MAE203 The Global Economy

Download : 0 | Pages : 6

Answer: 1a.   Figure 1: Trend in monthly cash rate in Australia (Source: rba.gov.au 2020) The trend in monthly cash rate target of Australia shows that there is an overtime declining trend. In order to give the economy necessary stimulus through monetary policy, Reserve Bank of Australia continuously lowered the cash rate with cash rate declines sharply from 14.00 in August 1990 to 0.75 in January 2020. RBA adjusted the cash rate with...

Read More arrow Tags: Australia 6 the global economy Deakin university 

ECOM4000 Economics Assignment Help

Download : 0 | Pages : 7

Answer: Micro Economics Economies of Scale refers to the advantages accrued by firms as the firms increase the level of production.(Chauhan, 2009)For example, in the beginning, the per capita cost for every seat of every airline is high. However, as the number of seats sold increases, the cost per unit or the marginal costs decreases. This is simply due to the fact that the fixed costs of running an air line are high. As the number of seats...

Read More arrow
Next
watch

Save Time & improve Grade

Just share Requriment and get customize Solution.

question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

1,354,168

Orders

4.9/5

Overall Rating

5,080

Experts

Our Amazing Features

delivery

On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.

work

Plagiarism Free Work

Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.

time

24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat.

subject

Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.

price

Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 5/5

265 Order Completed

97% Response Time

Ken Campbell

MSc in Electrical Engineering

Wellington, New Zealand

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

2279 Order Completed

97% Response Time

Zachary Perez

PhD in Computer Science and Information System

Washington, United States

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

2109 Order Completed

99% Response Time

Emma Zhong

Ph.D in Project Management with Specialization in Project Communications Management

Singapore, Singapore

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

1692 Order Completed

98% Response Time

Alfred Dodd

PhD in Computer and Information Science with specialization in Database

Wellington, New Zealand

Hire Me

FREE Tools

plagiarism

Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.

essay

Essay Typer

Get different kinds of essays typed in minutes with clicks.

edit

GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.

referencing

Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.

calculator

Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability

1

1

1

Your Approx Earning

Live Review

Our Mission Client Satisfaction

Work clearly captured the differences and benefits of various forecasting methods. I made the right decision for help!

flag

User Id: 383727 - 02 Jul 2020

Australia

student rating student rating student rating student rating student rating

at first i got the assignment in different company's name which was supposed to be Bearena pty ltd...i told them about this one and today i have received the same assignment, they have just change the company's name..rest is same...not a even single ...

flag

User Id: 410147 - 02 Jul 2020

Australia

student rating student rating student rating student rating student rating

Great work, I appreciate such an excellent work. Great APA format and references. I will recommend you to my friends.

flag

User Id: 400631 - 02 Jul 2020

Australia

student rating student rating student rating student rating student rating

Was on time .save by the bell.thank you so much.all exams was done. You guys are the best

flag

User Id: 260883 - 02 Jul 2020

Australia

student rating student rating student rating student rating student rating
callback request mobile
Have any Query?