Task Assignment 1 consists of two problem questions (worth 5 marks each) based on text material. Text material which may be relevant to this question may be drawn primarily from any of Text chapters 1, 2, 3 and 4. Answer the following: Question 1 (5 marks) You have been employed as an economist to advise the Department of Health and the federal government about the following issue. The minister has argued that raising the tax on alcohol is the mo...
Read MoreQuestion: Describe about the Demand And Supply Of A Product And Factors That Affect The Demand And Supply Sides Of The Market. Answer: Introduction Demand and supply are factors that determine pricing for a commodity in a free market. While the pricing for goods tend to be determined by the demand and supply, the cross elasticity tends to have a significant bearing on the final pricing of the commodity (Mth, 1961). Interestingly...
Read MoreThis is a group assignment for on campus students and the group should consist of not more than 2 students. For off campus students, students can also do this assignment in group of 2 but this is likely to be difficult. Therefore off campus students can do this assignment individually. If students do this assignment as a group, only one member of the group will submit the assignment online by uploading it in Moodle. Please make sure you click on ...
Read MoreQuestion: Discuss about the Demand and Supply of Coffee in Australia Market. Answer: Introduction: Demand is the willingness and ability of a buyer to buy a product at the current market price. It is the quantities that a consumer is willing and can be able to purchase at a given price in a specified period of time. Supply is willingness and ability of a supplier to supply products at the current market price. It is the a...
Read MoreAssignment Questions: 1. Define the industry that you are applying these concepts to. Your industry ought to be pretty precisely defined and this is not necessarily an easy thing to do. Note that it can be just as important to say what is NOT included, as what is. 2. What does this industry do? ie use plain English to describe, in a little bit of detail, what this industry does. 3. What are the key products in your industry? List or briefly descr...
Read MoreQuestion: Discuss about the Economics for Business for Monetary Policy. Answer: Australia’s monetary policy The tools of monetary policies are Open Market Ratio (OMO), bank interest rates or the cash rates in terms of Australia; Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). It also includes repo rate and reverse repo rate. The author analyzes the monetary policy of Australia from the year to 2010 to 2013(Fenna 20...
Read MoreQuestion: Discuss about the Economics for Business for In any Market Structure. Answer: In any market structure, an appropriate once-off expenditure on product differentiation will guarantee the firm’s ability to maximize economic profit into the future. Introduction The main aim of this part of the assignment is to discuss whether the expenditure on product differentiation guarantees firms ability to maximize profit in futur...
Read MoreQuestion 1 (15 marks)
In any market structure, an appropriate once-off expenditure on product differentiation will guarantee the firm’s ability to maximise economic profit into the future. Discuss.
Question 2 (15 marks)
Economics has difficulty in explaining why wage rates for individuals vary across occupations and industries and within occupations and industries. Discuss.
Your job is three fold:
1. Identify the policy problem
2. Identify the stakeholders in the trial
3. Clearly identify the role and influence they have on information policy
You have to identify at least six separate stakeholder perspectives and discuss the role each plays. You will be marked in accordance with the criteria shown below
Question: • Scarce resources- which resource and in which country/industry are seen as scarce and what is being done in the industry or country. What substitutes have been used to overcome this problem! • Micro economics – Choose any industry and discuss the reforms done or needed in that industry. • Demand and supply of a product of your choice and factors that affect the demand and supply sides of the mar...
Read More2.0 The TaskYou have been commissioned by Inglenook Dairy to:1) Describe and analyse the structure of the Australian Dairy Industry, identifying the stages through which raw milk is produced into dairy products and distributed and marketed to final consumers.2) Identify and analyse the structure of any intermediate markets (ie vertically-related markets) involved in the production and distribution of final dair...
Read MoreYou have been commissioned by Inglenook Dairy to:1) Describe and analyse the structure of the Australian Dairy Industry, identifying the stages through which raw milk is produced into dairy products and distributed and marketed to final consumers.2) Identify and analyse the structure of any intermediate markets (ie vertically-related markets) involved in the production and distribution of final dairy products (...
Read MoreQuestion: Case study on financial mismanagement. Answer: Introduction Financial mismanagement is the deliberately handling careless, or inefficient and reflection negatively of the financial standing of an organization or an individual. The mismanagement of the finances can be carried in various ways example; wrong distribution of the responsibility, dismissal of the payments, neglecting of the bills and the taxes responsibili...
Read MoreQUESTION 1: Chapter 3 In the last decade there has been a shift towards the direct transfer of funds from investors to the corporate sector. Examine some of the reasons for this trend.QUESTION 2: Chapter 4(Annuity payment and term loan) On 31 December Liz Klemkosky bought a yacht for $50 000, paying a deposit of $10 000 and agreeing to pay the balance in 10 equal annual instalments that would include both the principal and 10% in...
Read MoreQuestion: Explain the term for Economic for Business and analysis of Market Structures. Answer: Introduction The topic selected for the purpose of this assignment is market structures like Monopoly, Oligopoly and monopolistic competition in Australia. Market structures refer to the conditions or features of the markets that have an influence over the interaction between sellers and buyers. For instance, there are features like numb...
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