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

My Topic Is Regarding The Demand And Supply For Particular Resources

tag 0 Download5 Pages 1,112 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT


Discuss about topic of regarding the demand and supply for particular resources ?

Answer :


My topic is regarding the demand and supply for particular resources in Australia. I chose an article concerning the increase in electricity prices which led to a one percent national decline in the demand. The article was published in the Australian Business Review in 5th January 2017 (Kylar, 2017). I chose this topic and the essay since it was experienced countrywide. It did not happen to a given region.

The article says the country at that time depended on two major power generating centers. These were AGL and Origin Energy. Some similar companies in the same industry are planning to close causing a slight decline in supply. Therefore, the prices were raised to meet the new equilibrium. Residential homes had an increase of $94 while small businesses had $297 more money to pay per year. The two dominating power stations also increased their prices by an average of $132 and $ 135 annually.

Essence of the Story

A large number of residents in Australia use electricity for lighting, heating, running devices and business activities. The decline of demand originated from the rise of prices. The issue happened when some power stations such as the Hazelwood in Victoria are retiring from the market. The remaining firms were forced to increase their supply to meet the deficit created by Hazelwood. That led to a decline in supply making prices to escalate. As a result, demand for electric power reduced countrywide.

I chose the article since it may be interesting to the whole country. Individuals in Australia must have complained why the unit prices for the electric power are hiking. The article would be important in giving them answers. Moreover, researchers and investors could also be interested. The fact remains that most residents are switching to other forms of energy such as generators, and solar panels. The investors can now make cheaper power machines to take advantage of the market situation.

Economic analysis.

Based on microeconomics, demand is influenced by some factors such as changes in prices of commodities, income levels of the consumers, competition, and changes in consumer preferences (Jindal, 2016). The first three influenced demand since the rise of prices made consumers start disliking the service. Their income remained constant, and there was an availability of other sources of energy. They include CSIRO, Eurosolar, which offer and BP Solar affordable solar energies (Cludius, Forrest & MacGill, 2014). Therefore, the citizens lost their tastes and preferences for the former power and shifted to the competing sources. That led to a decrease in demand.

The issue raised both micro and macroeconomic factors. The first one occurred when some consumers found it unbearable to keep up with the electricity costs. They, therefore, switched to other sources. For the latter, it concerned the whole nation. Withdrawal of some firms in the sector led to a decline in the GDP. The federal government obtains money through taxation to the enterprises and charges imposed the consumers (Bird, 2016). Therefore, the remaining companies were forced to boost their supply to sustain all customers. The government, on the other hand, introduced a fiscal policy where it levied more taxes on the firms and the consumers to maintain its GDP (Ban, 2015). That made the prices to shift upwards.



This part gives a remedy to the issue. From my point of view, the problem originated from the closure of some of the central power stations. My first suggestion is based on the Victorian government policies. Anderson, (2017) says the Hazelwood was to close on 2005. However, the government privatized it for it realized its importance to the Victorian people. It was scheduled to close at 2030. The plant is now considering shutting down due to carbon taxes imposed by the federal government. Also, it will take three more years to demolish the premises.

I would recommend the Victorian government to improvise ways of doing away with carbon disposal since it is the one causing the whole problem. Upon doing so, its tax rates for the same will also decline. The facility is a public good and provides much energy assistance to the residents. Besides, people the staff and contractors will lose their jobs, costs will go up due to reduced supply, the land will be degraded plus the same government will heavily spend on demolishing than paying the taxes (Enos, 2016). It can then postpone its closure up to the expected 2030.

The other possible solution is letting private investors run the firm. It is changed from government-owned to privately-owned. Mbeche & Dorward, (2014) say most government businesses are poorly managed and full of frauds. But when left under the control of an investor, the new management will run the company in the best manner. They will be focusing on profit maximization, and the company will last for long.


Based on the above analysis of the article, it is clear that prices in Australia regarding electricity shall go up. However, after studying the issue, it is realized only one power station, Hazelwood. The firm is government owned and is closing due to tax impositions. The report explains measures to keep the company in operation up to 2030. I base my conclusion to Hazelwood. Should it close, then people will face a crisis in paying high bills and taxes which the Victorian government will use to demolish the plant. If it adopts my recommendations, the plant shall operate till 2030. By that time a power solution will be available to replace Hazelwood if it will close.



Anderson, S. (2017). Hazelwood power station closure. Retrieved from

Ban, C. (2015). Austerity versus stimulus? Understanding fiscal policy change at the

International Monetary Fund since the great recession. Governance, 28(2), 167-183.

Bird, R. M. (2016). Reforming International Taxation: Is the Process the Real Product?

Hacienda Pública Española, (217), 159.

Cludius, J., Forrest, S., & MacGill, I. (2014). Distributional effects of the Australian Renewable

Energy Target (RET) through wholesale and retail electricity price impacts.           

Energy Policy, 71, 40-51.

Enos, R. D. (2016). What the demolition of public housing teaches us about the impact of racial

Threat on political behavior. American Journal of Political Science, 60(1), 123-142.

Jindal, S. (2016). Factors Affecting Demand for Money: An Empirical Study Based on

Time Series Analysis.

Kylar, L. (2017). Electricity demand falls a little as supply plunges. Retrieved 4 25, 2017, from The Australian Business Review:

Mbeche, R. M., & Dorward, P. (2014). Privatisation, empowerment and accountability:

What are the policy implications for establishing effective farmer organisations?

 Land Use Policy, 36, 285-295.


Cite This Work

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

My Assignment Help. (2018). My Topic Is Regarding The Demand And Supply For Particular Resources. Retrieved from

"My Topic Is Regarding The Demand And Supply For Particular Resources." My Assignment Help, 2018,

My Assignment Help (2018) My Topic Is Regarding The Demand And Supply For Particular Resources [Online]. Available from:
[Accessed 04 April 2020].

My Assignment Help. 'My Topic Is Regarding The Demand And Supply For Particular Resources' (My Assignment Help, 2018) <> accessed 04 April 2020.

My Assignment Help. My Topic Is Regarding The Demand And Supply For Particular Resources [Internet]. My Assignment Help. 2018 [cited 04 April 2020]. Available from: has appointed best assignment experts who are wizards of words. Our writers know every trick of crafting high quality write-ups within a short period. With years of experiences, we have become one of the most prolific assignment help services in the USA. We deliver custom-made help to students with writing different types of assignments. We guarantee total need-based and timely service, and this is why increasing numbers of students prefer to buy assignment online.

Latest Economics Samples

1303AFE Economics For Decision Making 1

Download : 0 | Pages : 6
  • Course Code: 1303AFE
  • University: Griffith University
  • Country: Australia

Answer: The rate of underutilization is the sum of unemployment and underemployment. For this reason, it can be said that the rate of underutilization will be higher compared to the rate of unemployment. Unemployment takes place when a person is actively searching for jobs and is unable to find any job.  Unemployment can be measured by measuring the rate of unemployment where the people who are unemployed are divided by the number of peop...

Read More arrow

ECOASS5 Economics For Business Of Equilibrium

Download : 0 | Pages : 5
  • Course Code: ECOASS5
  • University: Victoria University
  • Country: Australia

Answer: Introduction In this essay, the prospective effect of drought on macroeconomic equilibrium of Australia has been discussed. Drought indicates a dry climatic condition resulted from insufficient rainfall in a specific region. Drought affects an economy by influencing mainly supply side variables. Farms, business and common people are likely to suffer due to drought. Based on intensity the effect of drought might be local, regional or e...

Read More arrow

ECO202 Macroeconomics

Download : 0 | Pages : 5
  • Course Code: ECO202
  • University: Elite Education
  • Country: Australia

Answers: 1. The three main forms of unemployment are structural unemployment, frictional unemployment and cyclical unemployment. The first two represent natural unemployment while the third occurs due a decline in demand during recession. Structural unemployment  The labor market suffers structural unemployment due to a shift in the economic structure creating divergence between skills that workers possess and the skills that employers...

Read More arrow

ECON11026 Principles Of Economics Management

Download : 0 | Pages : 7

Answer: a. In a perfectly competitive market, firms are price taker as none of them can change the market price. New firms can enter into the market without any restrictions and each of them sells similar products. Therefore, each firm possesses a very small portion of the entire market. According to the characteristic of this market, each firm and each consumer has perfect knowledge of others (Cowell, 2018). If one of them change price then ...

Read More arrow

200425 Economics : Human Development Index

Download : 0 | Pages : 6

Answer: Workshop Question 1 The UNDP describes development on the basis of three essentials, which includes the ability for a country’s population to have long and healthy life, have a decent standard of living and quality education (Frugoli et al, 2015, p.370). Through the Human Development Index, a country’s overall well-being can, therefore, be easily measured. It’s a social measurement as it takes into consideration the...

Read More arrow

Save Time & improve Grades

Just share your requirements and get customized solutions on time.

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




Overall Rating



Our Amazing Features


On Time Delivery

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


Plagiarism Free Work

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


24 X 7 Live Help

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


Services For All Subjects

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


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

134 Order Completed

95% Response Time

Thomas Nelson

MS in Information Systems Technology with Specialization in Database Administration

New Jersey, United States

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

1896 Order Completed

95% Response Time

Herman Berens

MSc in Psychology

London, United Kingdom

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

285 Order Completed

99% Response Time

Eugene Baranowski

MBA in Supply Chain

London, United Kingdom

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

647 Order Completed

98% Response Time

Adlina Han

Masters in Marketing with Specialization in Branding

Singapore, Singapore

Hire Me

FREE Tools


Plagiarism Checker

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


Essay Typer

Get different kinds of essays typed in minutes with clicks.


GPA Calculator

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


Chemical Equation Balancer

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


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




Your Approx Earning

Live Review

Our Mission Client Satisfaction

Thank you so much for your efforts the solution was perfect and submitted on time.


User Id: 371975 - 03 Apr 2020


student rating student rating student rating student rating student rating

every thing good and Very classy treatment. thank you very much i hope do my thesis with this web


User Id: 396340 - 03 Apr 2020


student rating student rating student rating student rating student rating

The work was well present, details and met all expectations. This is a prove that I will always use this platform and recommend this site to friends at schools and family. Keep using great people to keep having users. Just after receiving this assign...


User Id: 203000 - 03 Apr 2020


student rating student rating student rating student rating student rating

good transcript that it make feel good because i don\'t need to worry about no ideas to write this transcript


User Id: 329158 - 03 Apr 2020


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