BB106 Economic Principles 经济学assignment 代写



 
 
Melbourne Institute of Technology Pty Ltd
CRICOS Provider No: 01545C,  03245K NSW
 

Assessment Details and Submission Guidelines
Course Name:	Bachelor of Business
Unit Code:	BB106
Unit Title:	Economic Principles
Assessment Type:	Individual Assignment Trimester 2 2017
Assessment Title:	Assignment 1
Weight:	15%
Total Marks:	25
Word limit	1000-1200 (+-10%)
Release Date:	Week 3
Due Date:	Week 6
Submission Guidelines:	·       This assignment should be completed individually ·       All work must be submitted via Turnitin by the due date along with a completed Assignment Cover Page. ·       The assignment must be in Ms Word format,1.5 spacing, 11-pt Calibri (Body) font and 2 cm margins on all four sides of your page with appropriate section headings.  ·       Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using APA referencing style.
Extension	·      If an extension of time to submit work is required, a Special Consideration Application must be submitted directly to the School's Administration Officer, in Melbourne on Level 6 or in Sydney on Level 7.  You must submit this application three working days prior to the due date of the assignment. Further information is available at: http://www.mit.edu.au/about-mit/institute-publications/policies-procedures-and-guidelines/specialconsiderationdeferment

 

 
 
Assignment Cover Sheet
 

Student ID Number:	Student Surname:	Given name/s:
Course:		School:
Unit code:	Unit title:
Due date:	Date submitted:	Campus:
Lecturer:		Tutor:

 
 
All work must be submitted via Turnitin by the due date.  If an extension of time to submit work is required, a Special Consideration Application must be submitted. Further information is available at:
http://www.mit.edu.au/about-mit/institute-publications/policies-procedures-and-guidelines/specialconsiderationdeferment
 
 

Academic Misconduct  Academic Misconduct is a serious offence. Depending on the seriousness of the case, penalties can vary from a written warning or zero marks to exclusion from the course or rescinding the degree. Students should make themselves familiar with the full policy and procedure available at:http://www.mit.edu.au/about-mit/institute-publications/policies-procedures-and-guidelines/Plagiarism-Academic-Misconduct-Policy-Procedure.For further information please refer to the Academic Integrity Section in your Unit Description.

 
 

Student Declaration
I/We declare that: o  the work contained in this assignment is my/our own work/group work, except where acknowledgement of sources is made; o  certify that this assessment has not been submitted previously for academic credit in this or any other course; o  I/we have read the MIT’s Plagiarism and Academic Misconduct Policy Procedure, and I/we understand the consequences of engaging in plagiarism; o  a copy of the original assignment is retained by me/us and that I/we may be required to submit the original assignment to the Lecturer and/or Unit Co-ordinator upon request;   I/we have not plagiarised the work of others or participated in unauthorised collaboration when preparing this assignment.
Student Signature:	Date:

 

 
 
Assignment details
BB106 Economic Principles 经济学assignment 代写 

Cost of tomatoes set to rise after Debbie damage
By AAP and ninemsn staff
Mar 29th, 2017
As the clean-up gets under way, industry experts believe consumers will immediately feel the monster storm’s effects on their hip pocket as vegetable supply lines to supermarkets are interrupted.
Bowen, one of the most heavily affected regions by the storm, is estimated to supply Australia with 95 percent of its tomatoes and capsicums over the winter months.
"Unfortunately there's no kind of insurance for these types of losses, so they're definitely going to go backwards," Queensland's Farmer's Federation spokesperson Ross Henry said.
"There's over a billion dollars' worth of agricultural production in that region, and it's just been hit with a category 4 cyclone, so we expect the damage to be quite large."
The price of sugar may also rise with much the region's sugarcane farms experiencing flooding from the estimated 400mm of rain dumped on Queensland's northern coast.
"We do know that hundreds of hectares of sugarcane have been flattened by Cyclone Debbie's winds with the Mackay and Proserpine districts the worst affected," Canegrowers CEO Dan Galligan said.
"Some of the cane will have been snapped or pulled up by the roots and some of it is underwater."
It’s estimated that Bowen's $160 million tomato crop will be the most heavily affected, and the most likely to see the sharpest increase in price.
"Tomato prices will probably go up to $9, $10 a kilo for good quality tomatoes," Homebush grocer David Tobey told news.com.au.
Experts say it isn’t just the severity of Cyclone Debbie that’s made the biggest impact on local farmers – it’s the timing.
"It's a really unfortunate time for the cyclone to hit,” fruit and vegetable wholesaler Anthony Joseph told 9Finance.
"Farmers have spent weeks preparing their crops for the peak season over winter.”
Sadly, it's not the first time North Queensland farmers have suffered at the hands of extreme weather events – in 2011, Cyclone Yasi sent the price of bananas through the roof, with consumers paying up to $15 a kilo.

 

Required

This individual assignment requires students to answer the following four questions based on the above article.   To support your answers, use suitably labelled diagrams (where appropriate). 
a.    Assuming tomatoes are sold in a purely competitive market, discuss other major factors contributing to increase price of tomatoes in Australia. In your answer,includeappropriately labelled demand and supply curves to explain the process of moving to the new equilibrium output and price.
10 marks
 
b.    Explain the concept of the demand elasticity. Using appropriately labelled demand and supply curves, discuss the price elasticity of demand for tomatoes.
10 marks
 
c.    Based on your answer in part b, illustrate hypothetically, what should be the effect of the rising price of tomatoes on the total revenue of the tomatoes wholesale market.
10 marks
 
d.    Considering the fact that many tomato farmers could abandon the industry, explain, the different strategies that government should adopt to sustain the long-term supply of tomatoes.Use graphs to support your answer. Discuss the advantages and disadvantages of the strategies you have mentioned.
10 marks

 

 
Marking criteria

Question	Marking Criteria	Marks
a.	Explain other factors affecting the supply of tomatoes	5
	Use appropriately labelled graphs	5
b.	Demonstrate knowledge of demand elasticity and price elasticity of demand	5
	Use appropriately labelled graphs	5
c.	Explain the effect of the rising price of tomatoes on the total revenue of the tomatoes wholesale market.	5
	Use appropriate hypothetical numbers	5
d.	Explain strategies that government should adopt to sustain the long-term supply of tomatoes	5
	Discuss advantages and disadvantages of the strategies	5
	Written communication:structure, grammar, and language	5
	*Evidence of breadth of research and accurate referencing (APA Style)	5
	Total marks	50

*References: For this assignment you are required to provide at least 2-3 references from peer reviewed articles (Wikipedia sources are not accepted). For peer reviewed articles, please go to the MIT Library databases (e.g. Emerald Group of Publishing Limited, and Business Source Complete).
 
 BB106 Economic Principles 经济学assignment 代写