What was the total value of exports from the country and imports into the country?

the research on Australia Instructions: Please ensure you keep to the word limit. Your report should have a title page, table of contents and reference list. You can use pictures, tables and graphs to support your answers, please ensure you reference them.Task 1—Economic system (400 words) Give an overview of the country (100 words) Describe three characteristics of (150 words): Market Economy Command Economy Mixed Economy Explain the economic system followed by the country. (150 words) Task 2—Demand and Supply (350 words) Research and identify any one product or service which is in great demand in that country. State the reasons why this product is in demand. Draw a graph showing the demand curve for that product / service. Research and identify any one product or service of which there is large supply. State some reasons why you think supply is plentiful. Draw a graph showing the supply curve for that product / service. Task 3—Market Structures (350 words) Provide examples of businesses / organisations that operate in each market structure of your chosen country’s economy—perfect competition, monopolistic competition, monopoly and oligopoly. Write brief statements on how you can tell they are part of those market structures. Task 4—GDP (200 words) Research the GDP of your chosen country and provide figures for the latest year on how much each sector of the GDP (C, I, G and X-M) has contributed to the economy. Which sector contributed the most to the GDP? Explain briefly why you think that sector was the highest contributor. Create a pie chart to show the individual contributions of each sector. Task 5—Business Cycles (200 words) Identify which stage of the business cycle the economy of your chosen country is presently in. Explain your findings. When did this country last experience a recession? Task 6—Inflation (350 words) Explain the price levels in your chosen country’s economy and state the current level of inflation. In Task 2, you identified a product which was plentiful in supply. If there was an increase in production costs for this product or service, what would happen to its supply? Briefly describe this type of inflation. Task 7—Unemployment (300 words) What is the present level of unemployment in your chosen country? Identify and explain any changes in the unemployment levels over the past five years. Plot the unemployment rates for the last five years on a line graph. Task 8—International Trade (250 words) Research and obtain information on your chosen country’s current account balance for the latest year. How much is the country’s current account balance? What was the total value of exports from the country and imports into the country? Did the country have a trade surplus or trade deficit? Explain your answer. Which country were most exports made to and which country did most imports come from? What is the country’s current exchange rate against the US dollar? How has it changed over the past 12 months? Explain possible reasons for any changes. Some of the sources you could use for your research in putting together this assignment include: CIA – The World Factbook International Monetary Fund (IMF) The United Nations Websites of the government of your chosen country Websites of the national bank of your chosen country globalEDGE Country Insights – Centre for Intercultural Learning Encyclopedia of the nations