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This case study focuses on the Australian economy in 2019, before the COVID-19 pandemic hit.
On 4th September 2019, the Australian Bureau of Statistics (ABS) published Real GDP data for the quarter ending June, 2019. (The reporting of GDP always lags by about 2 months as it takes time to collect and compile data). The data showed that the Australian economy recorded a quarterly growth of 0.5%.
However, there was a decrease in Real GDP per capita. Furthermore, Real GDP per capita in June 2019 was lower than it was a year before (June 2018). Overall, while Real GDP still increased, the growth was very weak; the weakest on record since March 2001. (Source: Australian Financial Review and The Guardian
Given the economic conditions described above, predict how the Real GDP would be like for the quarter ending June 2019.
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A company has decided to gradually phase out an old machine with a new machine. It will take 2 years to gradually make this transition so the company does not reduce its annual production output and they will still be able to ship all of their custom..
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Compare and contrast business environments in 2 or more countries of your choice (one country should be your own) - Critically evaluate measures used by governments and central banks to manage the economies of their countries.
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