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Sample Assignment on Microeconomics PDF

   

Added on  2021-06-18

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Running head: MICROECONOMICSMicroeconomicsName of the Student:Name of the University:Author’s Note:
Sample Assignment on Microeconomics PDF_1

MICROECONOMICS1Table of ContentsIntroduction......................................................................................................................................2Discussion........................................................................................................................................2Conclusion.......................................................................................................................................5Reference List..................................................................................................................................6
Sample Assignment on Microeconomics PDF_2

MICROECONOMICS2IntroductionThe traditional economic concepts make an attempt to explain certain economic conceptswith the help of simple supply-demand framework. In the context of the given scenario of theAustralian government imposing a tax over the sugary drinks the concept of controlling supplywill be explained with the help of demand supply model. Primarily UK announced a tax on softdrinks and soon after that the Australian government also declared that they are going to tax thesugary drinks. However, the UK stated that this taxation is mainly because providing their youtha healthy lifestyle and the revenue which the government will accrue would be spent on kid’ssports activities. It has been observed that Australian people happily pay these sort of sin tax.People of the country have already accepted a higher level of tax on fuel, alcohol and cigarettes.This new tax may affect the sugar industry of Australia but the cane growers of Queensland areless likely to be affected as they export their products and as a result the local tax will not affectthem.The two issues which can be found in this article are the,Impact of taxation on the supply curve of the producersIncrease in income inequality due to the incidence of a taxThese two concepts will be linked with the following learning outcomes,See how supply and demand together set the price of a good and the quantity soldLearn the meaning of the elasticity of supplyLearn the meaning of the elasticity of demand
Sample Assignment on Microeconomics PDF_3

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