Eco essay help (1 Viewer)

[ananyasinha]

Examine the reasons for change in the composition and direction of Australia’s trade and explain the impact of these changes on structural changes in Australia.

--I can talk about the change in composition and direction, but not sure about structural changes in relation to this? Any pointers would be appreciated!

Thanks

 

[Phaze]

The way in which the allocation of resources has changed between primary, secondary and tertiary sectors is essentially the change in composition and direction within an economy as this relates to where the most capex. is allowing for a growth in the sector and in that industry. If there is a major change in the allocation of resources from one sector to another, lets say from secondary to primary it will assist a structural change such as shifting from an economy that has a large manufacturing industry to an economy which has a large raw materials industry (mining).

So when you talk about the change in composition and direction in relation to the way it impacts structural changes you could talk about how Australia faced a structural change in the past which was successful due to the change in composition and available capital.