代做BECO011 Economics for Business Tutorial Week 3代写C/C++语言

BECO011 Economics for Business

Tutorial Week 3: Government Intervention

BECO011 Week 3 Tutorial A Worksheet

Tutorial A

Activity 1 – Price Controls – Minimum Wage

Students are placed in groups of 3-4, Within the group, discuss the following questions based on the article that you have read.

Task 1

1. Find out the latest national minimum wage in Australia.

2. Why is minimum wage considered a price floor? Does it lead to a shortage or surplus in the labour market? Explain.

3. In what ways does the minimum wage impact the overall economic well-being of workers in Australia?

4. How does the minimum wage in Australia impact small businesses, especially in terms of operational costs and competitiveness?

5. In your opinion, should minimum wage be continuously enforced or instantly abolished? Discuss.

Task 2

Share your ideas within the group. Appoint a group leader to do a 2-minute presentation to the whole class. 

Activity 2 -  Government Policies and Intervention – Taxes, subsidies and regulation

Students are placed in groups of 3-4.  Within the group, complete the following questions

Task 1

1. Just as the government imposes high taxes on cigarettes to discourage smoking, how do taxes, subsidies, and regulations impact the following market outcomes?

2. Despite the good intentions to correct market failures, sometimes government intervention may bring about market inefficiencies and unintended consequences.

Using the outcomes above, describe the unintended consequences