An Economic Comparison Of Australia, Cuba And Singapore Country, Employment, Quality Of Life, Enviromental Quality And Government Comparison (Was A Group Assignment)

1118 words - 4 pages

Country ComparisonAustralia Cuba SingaporeTotal Population 19 913 144 11 263 429 4 224 000Work Force 10 190 000 5 550 000 2 010 000Unemployed 519 690 227 550 202 750Australia is the sixth largest country in the world. It is located south of Indonesia with a population of 19 913 144 (July 2004 est.) Australia is comprised of 6 states and 2 territories. Australia is an advanced market economy. A market economy is organised through a series of markets involving buyers and sellers of resources and final good & services. It is based on private enterprise.Cuba is a small country situated south of USA with a population of 11 263 429 with a total area of 115 704 square km. The country is divided into 14 states. Cuba has a planned economy that is controlled by the state. In a planned economy, the state makes the decisions that include distribution of goods and sets the prices of all goods. There is little chance for individual economic decision-making.Singapore has an open economy with strong service and manufacturing sectors and excellent international trading links derived from its entrepot history. Singapore is located off the southernmost extremity of the Malay Peninsula to which it is linked by a causeway. It includes the main island of Singapore and 57 smaller islands, covering a total of 620 square km.Australia Cuba SingaporeGDP/GNP PPP $571.4 billion, per capita $US25,458 PPP $US 25.9 Billion, per capita $2300 PPP $US 91.4 Billion, per capita $US21,760Currency $AU1.26 = $US1 21.00 peso = $US1 $SGD1.71 = $US1Inflation rate 2.6% 7.1% 0.5%Budget Revenue $185 Billion, Expenditure $181 billionRevenue $US14.9 Billion, Expenditure $US15.6 billion Revenue $US14.2 Billion, Expenditure $US15.6 BillionEmployment And UnemploymentThe workforce divided into sectorsSector Australia Cuba Singapore% Of Workforce % Of GDP % Of workforce % Of GDP % Of workforce % Of GDPPrimary 5 3 25 8 34 33Secondary 22 26 24 34 0 0Tertiary 73 71 51 58 66 67Australia has a workforce of 10.19 million people with an unemployment rate of 5.1 %. 67.2% of Australia's population is aged 15-64, with an aging population. Tertiary industries have the most people employed with 71% of the workforce providing services to tourists and locals. International tourists brought $10.7 billion to Australia in 2003.Cuba has a workforce of 5.5 million with an unemployment rate of 4.1%. Cuba has 69.7% of the population aged 15 to 64. The sector that has the most amount of people employed is the tertiary industry with 51% of the work force providing services to tourists and locals. Tourists bring $US1.66 million each year.Singapore has a workforce of 2.01 million with and unemployment rate of 4.8%. Singapore has 75.5% of the population aged 15 to 64. The sector which has the most amount of people employed is the tertiary sector. Singapore receives about 7 million people through tourism a year which brings $US4.93 billion each year.Quality Of LifeAustralia Cuba SingaporeHuman Development Index 3 52...

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