Acknowledge & report for the market for education, Business Economics

Task

You work for a government of a European country that is considering making admission to museums of your country free to make them available to everybody.

You have decided to do better than just a general layman's explanation. Your report will be written simply, but using the language of economics. Before you commit to this policy, you study examples of other countries, including the UK.

Overall your report will be between 1200 and 1600 words long (this page contains 429 words), covering the following points but in a coherent report. Do not answer the questions in the style of an examination.

(i)   Write a short, meaningful introduction into the topic.

(ii)   Explain, using the example of museum visits, the economic functioning of the market, using terms including demand and supply, price mechanism, incentives, market equilibrium, equilibrium price and quantity.

(iii)  Explain the demographic demand pattern for museum visits: Are certain groups of the population visiting museums more often than others?

(iv)  Explain possible causes for and effects of shifts in demand and supply in this market.

(v)  Explain, using the example of museum visits, own price, cross-price and income elasticity of demand; consider own price elasticity for various demographic groups. Use diagrams where applicable.

(vi)  Explain all possible market failures in relation to museum visits.

(vii) Explain possible options for government intervention to correct such market failures. One of these options should be free admission.

(viii) Describe how such government intervention could affect demand for museum visits; discuss limitations, costs and benefits of the options for government intervention.

(ix) Based on above analysis, make recommendations to the government.

(x)  Use appropriate sources for your analysis, including government, business and academic reports and journal articles, reliable news services, and excluding internet sources of uncertain or questionable origin.

(xi) Acknowledge all your sources fully and according to Harvard style.

(xii) Format your report appropriately and professionally with a title page, contents, page numbers, and clear tables and diagrams with titles, numbers and sources.

Posted Date: 2/14/2013 6:52:01 AM | Location : United States







Related Discussions:- Acknowledge & report for the market for education, Assignment Help, Ask Question on Acknowledge & report for the market for education, Get Answer, Expert's Help, Acknowledge & report for the market for education Discussions

Write discussion on Acknowledge & report for the market for education
Your posts are moderated
Related Questions
What are the advantages of informal economy? Advantages of the informal sector: • Employment, opportunities and income. • Offers cheap inputs for the formal sector •

This is concerned with any one of the following forms. controlling the supply of money controlling interest rates Rationing the amount of credit granted by banks

What are the limitations of balanced growth? The limitations of balanced growth: • The strategy of balanced growth is away from the resources of most poor countries; • Go

QUESTION (a) Explain and discuss the Structure Conduct Performance framework (b) The hypotheses of interest in the Structure Conduct Performance framework are as follows- H

Assess the current environmental scan factors that are relevant to the decision making process. Determine the factors that will have the greatest impact on plant operations and man

Calculate the market value of your corporation at the end of the sample period.  Multiply the last price in the sample times the number of shares outstanding at that time.  You can

An online stock trading company makes part of their revenue from clients when the clients trade stocks therefore, it is important to the company to have a good idea of how many tra

Suppose that EBV makes a $6m Series A investment in Newco for 1m shares at $6 per share. One year later, Newco has fallen on hard times, and receives a $6m Series B financing from

Is there a consensus view on the responsibility of government? Highly controversial and depends onto your view like to whether markets work. International agencies as like the

my fgeind lewis wants ro know about hard and soft hr and whats good and whats bad about it so cabn u answer pelase