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In: Economics assignment help

24
Aug

BEA683 Economics for Managers: Group Assignment

Total Marks:                 20 marks Weight:                        15% of final marks Length:                        up to 1400 words Minimum price on alcohol Governments in Australia and around the world are considering implementing a minimum price (aka price floor) on alcohol. Your task is to use the Economic way of thinking learnt in class to formally explain the effect of the minimum price. You will need to consider the external effects (negative externalities) of alcohol consumption, the price elasticity of demand, and taxation (an alternative way of reducing alcohol production/consumption). To simplify analysis, please assume that alcohol is a single homogenous good. That is, do…

07
Jul

ECO501- Business economics !

Assessment item 5: Problem Question Task Assignment 5 consists of one problem question worth 10 marks. Before attempting this assignment you are expected to have read Text chapters 12, 13 and 14. You are encouraged to make use of additional sources. Sources used in your answer should be fully referenced in APA 6th style. Answer the following question ensuring that you apply economic principles or theory related to understanding the health of the economy and the need for government intervention to inform your analysis and support your decisions. Communicate your ideas with correct grammar, spelling and writing style and support your answer with diagrams and…

07
Jul

ECO501- Business economics !

Assessment item 4: Essay Question Task Assignment 4 consists of one essay question (worth 10 marks) based on text material. Before attempting this assignment you are expected to have read Text chapters 1 to 10. You are encouraged to make use of additional sources. Sources used in your answer should be fully referenced in APA 6th style. Answer the following question ensuring that you apply economic principles or theory related to the concepts of benefits, costs and market structure in which a firm operates to inform your analysis and support your decisions. Communicate your ideas with correct grammar, spelling and writing…

07
Jul

ECO501- Business economics !

Assessment item 3: Short Answer Questions Assignment 3 consists of two short answer questions (worth 5 marks each) based on Text material. Before attempting this assignment you are expected to have read Text chapters 1, 2, 3 and 4. Sources used in your answer should be fully referenced in APA 6th style. Answer the following questions ensuring that you apply economic principles or theory related to (a) the concepts of supply and demand for Question 1 and (b) the concepts of specialisation and exchange for Question 2 to inform your analysis and support your decisions. Communicate your ideas with correct grammar, spelling and writing style and support your answers with diagrams…

05
Jul

Economy and Risk Drivers in Thailand!

Thailand’s economic performance since 2011 In 2011, the country witnessed two major crucial events that destabilized Thailand’s economic growth-general elections, and flooding in most parts of the country. 2011 politics was partly divisive and inhibited the growth of the country’s economy. In these elections, the Pheu Thai Party had worn against the Democratic Party. Yingluck Shinawatra, who was the youngest sister of Thaksin, was leading Pheu Thai Party, hence she became the president. Thus, it is notable that the entire year was marked by elections that hindered economic development. As if that is not enough, the floods came destroying the little…

22
Jun

The perfectly competitive model Vs the monopolistic model !

A monopolistic model and a perfectly competitive model are economic presentation of two different market structure that can be differentiated on the basis of market share, control over the price and barriers to entry in the market. In a perfectly competitive market model, there are a huge number of firms and no single firm has a proper control over the market (Taylor, Stonebarger & Leven, 2015). Contrary to the perfectly competitive model, a monopolistic market model comprises of only a single firm that decides the price, supply level of goods and has a total control over the market. However, a monopolistic…

22
Jun

Comparing Perfectly competitive model with the monopolistic model!

Market is a place where buyers & sellers meet for some kind of transaction. There are three different types of market structure perfect competition, monopoly and imperfect competition. Perfectly Competitive – In perfect competition the product sold by different firms is identical. It’s a market structure where there are various sellers who offer similar products or services which are manufactured by using a standard method and every firm has details about the market as well as price. The entry and exit to a perfectly competitive market is free and in this situation the competition is at its peak. In this case the firms are…

18
Jun

The concept of elasticity explaining how the economics is the way of life !

            Elasticity is also an important concept that plays a vital role in every day activity. Elasticity as a concept is defined as the extent to which the demand or even the supply of a particular product changes at a given time to the change in price. A product is considered to be highly elastic if its consumers become highly sensitive to the price once it increases or decreases, and the change in price has an immediate impact on the quantity demanded (Imbs and Mejean 2015). For example, when the price of Coca Cola increases, the…

18
Jun

The concept of equity and efficiency explaining how the economics is the way of life !

            Economics is definitely the way of life as it deals with the important concepts of equity and efficiency. While optimum production as well as allocation of resources is important for the advancement of any economy, ensuring that the resources are being equally distributed amongst the all is equally important. By ensuring equity, the government does ensure that it does take steps to reduce the problems of absolute property whereby each individual has some resources to live with. For example, usually the government ensures that the richer who enjoys greater allocation of resources pays a higher…

18
Jun

The concept of demand and supply explaining how the economics is the way of life !

Economics is definitely the way of life as it helps in ensuring the proper allocation of resources and ensures that these resources do not become scarce in the face of heavy demand. The concept of demand and supply have always been found to be extremely integral to any sort of economic activity performed daily by humans. According to the law of demand, there exists an inverse relation between the price of a product and the quantity demanded. In other words, if the price of a good is higher, the demand for the good will naturally decrease while if the demand of…

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