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Economic - Coggle Diagram
Economic
Supply and Demand
Droduction VS Consumption
2004
'Wine Glut'
Excessive due to large harvest
Disposable income
Can determine demand
OLD WORLD WINES are slower to produce and therefore meet demand
2016 Italy and Spain
Trade agreements
Spain, China, Chile
Competitive advantage
IMPORT/EXPORT TAXES
Reputation
consistency
Quality
Climate varieties
IN AUSTRALIA
EUROPE
Priority to wine market
FUTURE
Expansions of market and production
Adapt to consumer demand/ preferences
Mobilities of capital + labor
COVID
workers
Use of foreign workers
Workers
Visas