An economic comparison of australia, cuba and singapore country, employment, quality of life, enviromental quality and government comparison (was a group assignment)

Essay by majishanHigh School, 11th gradeA, May 2005

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Country Comparison

Australia Cuba Singapore

Total Population 19 913 144 11 263 429 4 224 000

Work Force 10 190 000 5 550 000 2 010 000

Unemployed 519 690 227 550 202 750

Australia 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 Singapore

GDP/GNP PPP $571.4 billion, per capita $US25,458 PPP $US 25.9 Billion, per capita $2300 PPP $US 91.4 Billion, per capita $US21,760

Currency $AU1.26 = $US1 21.00 peso = $US1 $SGD1.71 = $US1

Inflation rate 2.6% 7.1% 0.5%

Budget Revenue $185 Billion, Expenditure $181 billion

Revenue $US14.9 Billion, Expenditure $US15.6 billion Revenue $US14.2 Billion, Expenditure $US15.6 Billion

Employment And Unemployment

The workforce divided into sectors

Sector Australia...



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