Posted: September 5th, 2013
economic analysis of government intervention in a market
Economics
Task Description:
Write a 1,
000 word essay using the tools of economic analysis to describe and relevant diagrams to illustrate how government intervention in a market could result in unintended outcomes.
* How do the price elasticity of demand and the price elasticity of
supply impact magnitude of the impact from market intervention?
* Why and how government could influence the market price for a product impacting on suppliers and consumers?
* Describe two
real-life examples of government intervention and what do you think the interventions were meant to achieve in each case?( it is important that the examples are related to the Australian government and market)
* Overall, who are the likely beneficiaries and who loses with interventions in the market?