Economic and sociological factors affecting adaptability in the wool industry.

TL;DRAbstract

This thesis is based on a survey conducted in southwest Queensland which set out to determine the economic and sociological factors affecting the ability of the woolgrower arid his family to adapt to changes in the wool industry. This survey focused specifically on the five year period 1st July 1968 to 30th June 1973 because these were the years when the industry underwent fairly large changes.Graziers in three separate zones, defined on the basis of annual rainfall, were interviewed and considerable economic and sociological data gather-ed. The dependent variable in the study was economic performance. This measure, believed to indicate the ability of the grazier to adapt to change was simply the ratio of the value of total property output to total property expenditure. Five sets of explanatory variables were considered. These were (i) the changes made by the grazier to his property; (ii) the situational characteristics of the grazier; (iii) the predispositional characteristics of the

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