G12 review on micro 1

​Micro Economic Essay Review

​Choose one out the 4 essays (75 minutes)​

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Draw

Using real life examples, evaluate the impact that an increase in indirect tax might have on consumers and producers. [15] Please draw the diagrams

Draw

Discuss whether there should always be direct provision of public goods by the government.[15] Please draw the diagrams

Draw

Explain how two types of economies of scale can lead to a fall in long-run average costs. [10] Please draw the diagrams

Open Ended

Please think of a possible essay question that could be answered by using the following diagrams

Please think of a possible essay question that could be answered by using the following diagrams

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Open Ended

Please think of a possible essay question that could be answered by using the following diagrams

Draw

Discuss whether price will always be lower and output will always be higher in perfect competition compared to monopoly. [15]

​Micro Economic Essay Review

​Evaluation

Open Ended

Discuss the view that the provision of subsidies by the government on goods such as agricultural products will always be beneficial to stakeholders. [15]

List evaluation points or key words

Open Ended

Evaluate the view that the most effective way in which the government can discourage the consumption of demerit goods is through government regulations. [15]

Try to give evaluation points

Open Ended

Discuss the view that price controls imposed by governments on the market for rented housing should never be used. [15]

Open Ended

Share your real life example with your partner that is randomly assigned. Put anything interesting or useful into the answering box