Due Date 2 nd May 2014 The assignment consists of two problem questions and the completed…


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Due Date 2 nd May 2014 The assignment consists of two problem questions and the completed… 1 answer below » Due Date 2 nd May 2014 The assignment consists of two problem questions
and the completed assignment should not exceed
2,000 words . Please note that although the task only contains
two questions, the responses to those questions should be presented in the same
manner as you will be expected to present responses to all questions in all
assessment tasks in this subject. Your responses must be divided into 4 parts.
Each part is detailed in the guide to marking criteria given below. Question 1 (20 marks) The question is based on material in the Text. Text material which may be
relevant to the View complete question » Due Date 2 nd May 2014 The assignment consists of two problem questions
and the completed assignment should not exceed
2,000 words . Please note that although the task only contains
two questions, the responses to those questions should be presented in the same
manner as you will be expected to present responses to all questions in all
assessment tasks in this subject. Your responses must be divided into 4 parts.
Each part is detailed in the guide to marking criteria given below. Question 1 (20 marks) The question is based on material in the Text. Text material which may be
relevant to the question may be drawn primarily from any of Text chapters 3, 4,
5, 6, 7, 8 or 9. The question addresses the following learning outcomes: • be able to apply demand and supply analysis to make a range of market related
decisions • be able to critically examine and demonstrate why it might be necessary for
government to intervene in the production of goods and services and in the
distribution of income Answer the following: Schooling, for children between specified ages, is compulsory. However, not all
of these children attend public schools. Parents can elect to send their
children to private schools (which we will assume is the only alternative to
public schooling). There is debate in the community over the amount of subsidy
provided by government to private schools. Some argue that this subsidy should
be eliminated in order to reduce government outlays on education and that it is
wrong for the government to subsidize private schooling. In the context of the
demand and supply of schooling, evaluate this argument. Hint: Assume that the
average expenditure per student by government on students in public education
must remain constant. Question 2 (20 marks) The question is based on material in the Text. Text material which may be
relevant to the question may be drawn primarily from any of Text chapters 12 or
13. The question addresses the following learning outcomes: • be able to make decisions that incorporate the relevant benefits and cost
analysis Answer the following: An argument against the introduction of a carbon tax in Australia was that it
would only force the ‘dirty’ companies impacted to relocate overseas into
countries where such taxes were not imposed (such as China). Consequently, it
was argued, the imposition of the tax would make no difference to world-wide
pollution. Use your knowledge of the behavior of consumers to evaluate this
claim. Hint: In your answer, consider the relationship between Chinese consumer
demand for ‘clean air’ on the one hand and Chinese consumer demand for ‘other
goods’ on the other. Rationale In your working life you will be required to
present arguments and explain your decisions. Economics gives you tools to do
this. However, many of those with whom you work will have little, if any,
understanding of the principles of economics and their application. To
communicate with these people you will have to put your arguments succinctly
into language that they understand. This does not mean that your argument is
any less rigorous or sophisticated. Rather, it means that you are being asked
to communicate important concepts and decisions in a manner that most people
can understand. …

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