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Econ1101 (1 Viewer)
- Thread starter SonyHK
- Start date
bscienceboi
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I would also like to know if anyone is doing Question 12 
Question 21:
"
For the Australian Manufacturing sector the effective rate of protection fell from around 35% in 1970 to less than 5% in 2001. These policies have increased the competitiveness of Australian industry.
A) Explain how competitiveness is increased when domestic firms have easier access to cheaper intermediate inputs and capital imports. Some of these imported inputs may have given local firms access to the latest technology.
B) Explain how local manufacturers have faced increased competitive pressures with the greater availability of cheaper imported finished products.
C) Explain why those manufacturing sectors that experienced rapid import growth also had an even more rapid growth of manufactured exports.
"
"
For the Australian Manufacturing sector the effective rate of protection fell from around 35% in 1970 to less than 5% in 2001. These policies have increased the competitiveness of Australian industry.
A) Explain how competitiveness is increased when domestic firms have easier access to cheaper intermediate inputs and capital imports. Some of these imported inputs may have given local firms access to the latest technology.
B) Explain how local manufacturers have faced increased competitive pressures with the greater availability of cheaper imported finished products.
C) Explain why those manufacturing sectors that experienced rapid import growth also had an even more rapid growth of manufactured exports.
"
sorry dude my bad
A) Explain how competitiveness is increased when domestic firms have easier access to cheaper intermediate inputs and capital imports. Some of these imported inputs may have given local firms access to the latest technology.
- Wider access too smaller firms having technology means increased competition, increased competitors, increased quality, reduced cost thats the consequence of competition. this is very brief, use a diagram too show the differences in supply/demand change
i dont think thats a well set out question, i was hoping someone in my class had already done it so i could help you out =/
A) Explain how competitiveness is increased when domestic firms have easier access to cheaper intermediate inputs and capital imports. Some of these imported inputs may have given local firms access to the latest technology.
- Wider access too smaller firms having technology means increased competition, increased competitors, increased quality, reduced cost thats the consequence of competition. this is very brief, use a diagram too show the differences in supply/demand change
i dont think thats a well set out question, i was hoping someone in my class had already done it so i could help you out =/
seremify007
Junior Member
In response to the Q at hand;
A)
With cheaper imports, the cost of production is reduced both through the reduction in cost of the inputs, and through the lower cost of capital equipment (ie. things which increase efficiency). As a result, the competitiveness is greatly increased as the firms are able to charge a lower price than they would've been able to before.
B)
With other countries increasing efficiency/competitiveness, local manufacturers are forced to compete with them on price. Australia's high wages for example are something which does not exist in a lot of countries which compete with Australia on manufacturing, and as a result, there is much more competitive pressure on Australian firms to reduce cost of production (to lower price to consumers) through improvements in efficiency in other areas such as increased capital investment, newer technologies, alternate/cheaper inputs, etc... as opposed to just increasing staff numbers instead of capital.
C)
Rapid import growth could have resulted from cheaper imports (ie. cheaper inputs) and have allowed the manufacturing sectors to reduce cost of production, allowing them to lower the price, which leads to increased demand and thus, rapid growth of manufacturing exports.
Sorry for poorly worded/possibly wrong advice above, it's just a short/simplified version of what you could crap on about in your presentation. My answer to (C) is pretty crap, but that's my guess as to what it is. Maybe check the textbook- from what I've heard, most of the answers are in there. I'd check mine but i'm at uni (in the FCE lab) right now.
A)
With cheaper imports, the cost of production is reduced both through the reduction in cost of the inputs, and through the lower cost of capital equipment (ie. things which increase efficiency). As a result, the competitiveness is greatly increased as the firms are able to charge a lower price than they would've been able to before.
B)
With other countries increasing efficiency/competitiveness, local manufacturers are forced to compete with them on price. Australia's high wages for example are something which does not exist in a lot of countries which compete with Australia on manufacturing, and as a result, there is much more competitive pressure on Australian firms to reduce cost of production (to lower price to consumers) through improvements in efficiency in other areas such as increased capital investment, newer technologies, alternate/cheaper inputs, etc... as opposed to just increasing staff numbers instead of capital.
C)
Rapid import growth could have resulted from cheaper imports (ie. cheaper inputs) and have allowed the manufacturing sectors to reduce cost of production, allowing them to lower the price, which leads to increased demand and thus, rapid growth of manufacturing exports.
Sorry for poorly worded/possibly wrong advice above, it's just a short/simplified version of what you could crap on about in your presentation. My answer to (C) is pretty crap, but that's my guess as to what it is. Maybe check the textbook- from what I've heard, most of the answers are in there. I'd check mine but i'm at uni (in the FCE lab) right now.
That's what I thought. To SonyHK, if it helps, try reading yr12 economics (topic 1) on Protectionism.Jago said:
LOL got the same mark as you for q1.Casmira said:yay i got my mark back 9/10 i thought i got 10/10
I think Officeworks does it for you- at a premium. You can always print it at home but make sure you buy the right type of transparency.weR1 said:
2 ways.weR1 said:
You can buy transparency from the copy centre (thats next to zippys near the roundhouse) then print on them.. 45c each.
or
print a copy normal off your computer. bring it to library, level 2, theres an o/head converter copier opposite the IT service desk. 60c per print.
chances are, you'll see me there printing o/head notes for PASS around 1150 each tuesday
redslert
yes, my actual brain
You use overhead notesEagles said:chances are, you'll see me there printing o/head notes for PASS around 1150 each tuesday
wow high tech!
I'm stuck with the blackboard and I CANNOT write properly on a blackboard.
~ ReNcH ~
!<-- ?(°«°)? -->!
Sony, when's your Q21 speech? I'm wondering when I'll be doing mine...lol. My tutor still hasn't told me yet.
seremify007
Junior Member
Q21 should be like.. week10 isn't it?