Disaster for Farmers-providing appropriate solutions

Bumper Crops Spell Disaster for Farmers Due to ideal rainfall and good weather conditions, farmers in Toughtimes are expecting their biggest harvest in many years. Also, “There’s no question that this giant crop is a real disaster,” said John Farmer, the director of Toughtimes Farm Federation. Again, no farmer knows how they will survive this disaster, he added. The Toughtimes Farm Federation is lobbying the government to provide price support programs for this year’s crops.

Long-term determinants of economic growth

(a) The following textbox shows a newspaper excerpt on disaster for farmers in the economy of tough times.

(b) What are the long-term determinants of economic growth and how can the government influence economic growth.

Telecom Australia

Prior to 1991, Telecom Australia (currently known as Telstra) was the only telecommunications services provider in Australia. Consequently, Davidson inquiry passed a legislation  in 1991 allowing duopoly competition to curb disaster for farmers. Optus Communications became Australia’s second general telecommunications carrier. Accordingly, Telstra’s guaranteed returns on existing infrastructure on reasonable terms. After 1997, any telecom company purchasing a carrier license entered the Australian telecommunications market. Read more about Australian telecommunication  (a) Based on the topics covered in this unit explain the rationale behind the government of Australia deregulating the telecommunications market?   (b) Why was Optus guaranteed access to Telstra’s infrastructure? Explain.   (b) To what extent has the government been successful in eliminating disaster for farmers? Provide a brief explanation using some statistical evidence.

Struggle of market economies

Why do market economies struggle to achieve environmentally friendly outcomes? Again, what are the possible strategies that can be used by the government to reduce the amount of carbon emissions in the economy? Additionally, discuss the strengths and weaknesses of each strategy in trying to deal with disaster for farmers. Further, provide appropriate diagrams and statistical evidence to support your answer.

Australian grocery retail

Coles and Woolworths dominate the Australian grocery retail (AGR hereafter) sector. First, what type of market structure does this sector resemble? Secondly, based on the concepts learnt in this unit explain the likely reasons for the prevalence of this type of market structure in the AGR sector. Moreover, is the dominance of Coles and Woolworths in the AGR sector strength or a weakness for the Australian economy? Explain using relevant examples.

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