ECO107 Assessment 1(2) (2) (2)

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Charles Darwin University *

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107

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Economics

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Apr 3, 2024

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ECO107 Economics and The Modern Business Enterprise Assessment 1: Written Assignment Semester 2, 2022 Dr. D Chakrabarty Maximum Marks: 15 (worth 15% of the overall assessment) Due date: Monday, 19 th September 2022, 23:59 hours, Darwin time Instructions: 1. Assignment must be typed and submitted in Microsoft Word format. 2. Format the assignment with 1.5 line spacing and size 12 point Arial font. 3. Submit the completed assignment (as a Word document) electronically via “ Assessment 1 Submission Point ” in the Assessment 1 folder. 4. You must clearly label the answer to each question. 5. If you are unable to draw diagrams in Microsoft Word , you may use the excel files provided to generate the appropriate diagrams. You must copy the diagrams generated in the excel file onto your Word document. 6. Word count: The suggested word limit for each question is 200-250 words. 7. Information related to each of the above questions can be found in the learning materials and set text. However, you are encouraged to research using library resources and online materials. 8. You must clearly acknowledge all sources using Harvard referencing system including the textbook. 9. Keep a hard copy of the submitted assignment, in case there are problems with the electronic submission. Important Notice: As this is an individual assessment, students should submit their own assignment . All assignments submitted will go through a matching process. If found to have cheated/plagiarised, all submissions will receive a mark of zero for this assessment item. It is up to you to keep your assessment confidential. ECO107, S2 2022

This Assignment consists of 2 questions. Attempt all of them. Question 1 Consider the following statement: “Recent hostilities between Russia and Ukraine have led to an increase in world oil prices. A pall of gloom has fallen among car manufacturers that rely primarily on sales of cars with large engines that run on petrol. Meanwhile, electric car manufacturers are quietly optimistic about their future.” Explain, with the help of diagrams, how hostilities between Russia and Ukraine might lead to higher world oil prices and impact the markets for cars that run on petrol and electric cars. (10 marks) Question 2 Suppose the government is thinking of imposing a sales tax on all brands of cigarettes. What will be the likely impact of this tax on the overall price of cigarettes and who will bear the major burden of the tax? How will your answer change if a similar tax was imposed on all brands of tea instead? Explain with the help of appropriate diagrams. (5 marks) END OF WRITTEN ASSIGNMENT 2 ECO107, S2 2022

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