Assignment:essay
Subject:9
Study Level:Bachelor
Page Count:4
Number of sources:4
Spacing:single
Deadline:9th, 10 pm
Topic:The profit motive
Citation:Harvard
English:US
Order Number:54542
Details:Question 1: The profit motive is an essential ingredient of a market system. According to theory the price mechanism in a free market economy is an efficient distributor of goods and services. In practice, does the price mechanism always distribute goods and services to those who need them? Establish the meaning of the term market failure. Investigate an instance of market failure in the Australian economy. In your essay, identify the economic reasons for the market failure and also recommend some strategies for dealing with these failures and turning the business around. Criteria Q1 Introduction to chosen essay topic, adhering to word count, structure of the essay and APM cover page Students should be able to provide definitions for “the profit motive and the price mechanism”. Students should be able to demonstrate a working knowledge of how the price mechanism works in a free economy. Students should provide a valid explanation to support their answer to the question “Does the price mechanism always distribute goods and services to those who need them?” Introduce and link Adam Smith’s theory to this question. Can use examples to support this. Definition of Market failure and externalities Explain, using examples externalities and how it relates to this question (introduction of government here) OR Question 3: Do you agree with government intervention in the market to regulate prices? Discuss using examples the various forms of government regulation in Australia and whether this intervention is a positive or negative thing for the economy. (Please think of this situation wearing your economics hats). Criteria Q3 Introduction to chosen essay topic, adhering to word count, structure of the essay and APM cover page Students need to answer the question “Do you agree with government intervention in the market to regulate prices?” Support theory and examples need to be provided here. Students need to identify the various forms of government regulation in Australia and state the effects on the economy using examples. Referencing and indexing Guidance for writing essays General Points 1. Identify the instruction words: e.g. Investigate/ Research/Explain 2. Identify key words in the question eg. price mechanism, consumer price index etc. 3. Identify any terms which need to be defined e.g. market, price discrimination. 4. Remember DEEDA alternatively DADA. This is a way to check you have covered all the main requirements of the question. Define – have you defined all essential terms? Explain – is your explanation clear? Example – is an example asked for in the question or would an example help your explanation? Diagrams – are diagrams asked for in the question? Remember to use diagrams /graphs where possible to help explain your argument. Analyse – is your analysis clear and does it focus on the question
