Intro: Australian economy. Australia is classified by the World Bank as a developed country because its gross domestic product was US$1015 billion in purchasing power parity terms in 2008. Its per capita income was US$37,250 per annum, ranking it 11th highest in the world in terms of per capita income. The main sectors of the Australian economy include agriculture, forestry, fishing, mining, manufacturing and service.
Indonesian economy. Indonesia is a much larger country than Australia with a population of 227m people in 2008. Indonesia is also much more densely populated than Australia with 125 people per square kilometre as opposed to Australia’s 3 people per square kilometre. Indonesia is classified as a developing economy because of its low level of per capita income of US$3590 in 2008 ranking it …show more content…
In a market capitalist economy like Australia, the government is concerned that income is distributed fairly between all members of society and that all members of society are able to earn some form of income. The government also makes sure scarce resources are allocated as efficiently as possible. In doing so, the government is making sure everyone has access to a reasonable standard of living, things like access to health services, education and transport.
IND: operates very much the same way as Australia in regard to overall policy and goals. However Indonesia’s taxes significantly less due to its lower per capita income. It also spends generally less on health care and education. The Indonesian economy differs in the level of control that it has over the economy.
Bibliography: http://www.worldbank.org/en/country/indonesia/brief/world-bank-and-health-in-indonesia 8/3/15
Text book: Chapter 3- Tim Riley Publications PTY LTD