Protection in Aus (1 Viewer)

[im an idiot]

anyone know where i can get some good info on protection in australia and how it impacts on the economy?

 

[Ednaw]

protection...hmmm, Increased protection ie subsidies tariffs etc have the obvious effect of shielding our market from the international market. With tariffs it means where paying above the possible equilibrium price for goods or services. this means our economy may be ineffective in the allocation of resources. Reduction of protection either leads to structural efficiency (ie producing goods and services with a comparitive advantage) or technical efficiency where the current companies become more internatioanlly competitive.

Protection levels impact on the cad in the following way. High protection may lead to us exporting less due to structural problems (worsening the cad) or low protection means that if we export things we have a comparitive advantage in we can increase our bogs and better our CAD

Protection and globalisation, protection means that we're sheilded from the global economy and aren't able to adequtely benefit from globalisation (there are positives and negs. too lazy to explain) and low protection means that goods are at the cheapest levels and thus most efficient production and trade is possible.


*when i saw low protection i mean, no protection* hahah

 

[Mandy101]

Leading Edge Australia in the Global Economy has a good chapter on protection in Australia - it's available at Dymocks in the city. I got most of my information from my teacher who gives us really good handouts, but Leading Edge had some good material.

Basically you should know about how we've gradually reduced/eliminated most of our protective barriers - we still have some in the car industry though. You should also know about what protection is, and how it prevents free trade between nations - to tie in with that you should know advantages/disadvantages of protection and free trade (for example, disadvantages of protection include misallocation of resources, reduced incentive to innovate, and redistribution of income to name a few)

 

[im an idiot]

many thanks yall

 

[Huratio]

Leading Edge Australia in the Global Economy has a good chapter on protection in Australia - it's available at Dymocks in the city. I got most of my information from my teacher who gives us really good handouts, but Leading Edge had some good material.

Basically you should know about how we've gradually reduced/eliminated most of our protective barriers - we still have some in the car industry though. You should also know about what protection is, and how it prevents free trade between nations - to tie in with that you should know advantages/disadvantages of protection and free trade (for example, disadvantages of protection include misallocation of resources, reduced incentive to innovate, and redistribution of income to name a few)

i think the diagrams in reilly's is better for protection.. but i agree on what mandy said about what you have to know