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Question 1 : Explain each of the following using supply and demand diagrams.
(a) When a cyclone hits Queensland, the price of bananas rises in supermarkets throughout the country.
(b) When school holidays end, the price of interstate air travel in Australia falls.
(c) When a war breaks out in the Middle East, the price of Petrol rises and the price a used Ford falcon falls. Question 2 : The Australian government administers two programs that affect the market for cigarettes. First, media campaigns and labelling requirements aimed at making public aware of the dangers of cigarette smoking. Second, there is a tax on cigarettes.
(a) With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
(b) "A tax on cigarettes is a good way of raising tax revenue for the government." Discuss.
'Consideration does not have to be adequate or commercially realistic, nor does it need to be expressed in monetary terms, it merely needs to be "sufficient".' Discuss the accuracy of this statement.
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The U.S. President Barack Obama said America can "win the future" by rebuilding its manufacturing sector (on June 8, 2011, after visiting an automotive training center at a community college in Virginia, outside Washington). Do you agree, and why?
This project report speaks of the core and future aspects of Mutual Funds and the present challenges to cope with.
Research on examine the influence of social media on purchasing decisions of British women travelers to purchase Turkish travel products.
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Develop an insight into the pricing of financial instruments
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..
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