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Quick Question on the World Economy watch

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    We got set this as one of our questions - everyone's basically got it wrong and I have no idea what to do!
    So frustrating.
    I'd love any help.

    Australia is land abundant; India is labour abundant. Wheat is land intensive relative to textiles.
    Graphically demonstrate the pre- and post-trade equilibria between these two countries. Find and
    label the trade triangles for each.
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    Just for clarity, is this the question in it's entirety? Is there any supplementary information?
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    (Original post by hbsdfbhdksdfds)
    We got set this as one of our questions - everyone's basically got it wrong and I have no idea what to do!
    So frustrating.
    I'd love any help.

    Australia is land abundant; India is labour abundant. Wheat is land intensive relative to textiles.
    Graphically demonstrate the pre- and post-trade equilibria between these two countries. Find and
    label the trade triangles for each.
    Wow your lecturer is a bit of a ******* for giving you this.

    India has 1 billion inhabitants. Australia has 22 million inhabitants. It's a pretty insignificant country in my opinion. I get quite annoyed about how people (especially the Australians themselves) talk about Australia as if it is competing with Britain on a level-playing field. It's not, it's a tiny country that has no weight or significance in the world at all. Ok that might be a bit harsh... but Canada has far more weight and you don't hear half as many Canadians going on about their country and trying to prove that it's better.

    Ok I've gone completely off track...

    I would guess that the obvious answer is that with modern agricultural techniques, you don't need many workers to collect wheat to export it to trade partners so Australia would export quite a lot of it to India.

    The textile industry in South Asia is massive so India would export a lot of textile to richer countries such as Australia.

    Surely he's looking for more than 2 flows though? :confused:
 
 
 
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