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Task back to top Assignment 3 consists of two essay questions (worth 10 marks each) based on Text material. Before attempting this assignment you are expected to have read Text chapters 1, 2, 3 and 4. Sources used in your answer should be fully referenced in APA 6th style. Answer the following questions ensuring that you apply economic principles or theory related to (a) the concepts of supply and demand for Question 1 and (b) the concepts of specialisation and exchange for Question 2 to inform your analysis and support your decisions. Communicate your ideas with correct grammar, spelling and writing style and support your answers with diagrams as necessary. Question 1 (10 marks) Drawing on your knowledge of the theory of demand and supply – supplemented by appropriate media reports – explain what has been happening to the price of gas in Australia over the last ten years. Question 2 (10 marks) Drawing on your knowledge of the theory of specialisation and exchange – supplemented by appropriate media reports – explain what the consequences of rising energy costs will be for heavy industry in Australia. Online submission via Turnitin is required for this assignment. Details will be provided by your subject lecturer. Rationale back to top This assessment task will assess the following learning outcome/s: • be able to apply demand and supply analysis to make a range of market related decisions. • be able to identify and critically evaluate opportunities for specialisation and exchange. This assignment provides an opportunity for you to demonstrate that you are familiar with the use of the model of supply and demand and concepts of specialisation and exchange. Document Preview:

Task HYPERLINK “https://outlines.csu.edu.au/delivery/published/ECO511/201960/S/I/outline.html” l “contentPanel” back to top Assignment 3 consists of two essay questions (worth 10 marks each) based on Text material. Before attempting this assignment you are expected to have read Text chapters 1, 2, 3 and 4. Sources used in your answer should be fully referenced in APA 6th style. Answer the following questions ensuring that you apply economic principles or theory related to (a) the concepts of supply and demand for Question 1 and (b) the concepts of specialisation and exchange for Question 2 to inform your analysis and support your decisions. Communicate your ideas with correct grammar, spelling and writing style and support your answers with diagrams as necessary. Question 1 (10 marks) Drawing on your knowledge of the theory of demand and supply – supplemented by appropriate media reports – explain what has been happening to the price of gas in Australia over the last ten years. Question 2 (10 marks) Drawing on your knowledge of the theory of specialisation and exchange – supplemented by appropriate media reports – explain what the consequences of rising energy costs will be for heavy industry in Australia. Online submission via Turnitin is required for this assignment. Details will be provided by your subject lecturer. Rationale HYPERLINK “https://outlines.csu.edu.au/delivery/published/ECO511/201960/S/I/outline.html” l “contentPanel” back to top This assessment task will assess the following learning outcome/s: be able to apply demand and supply analysis to make a range of market related decisions. be able to identify and critically evaluate opportunities for specialisation and exchange. This assignment provides an opportunity for you to demonstrate that you are familiar with the use of the model of supply and demand and concepts of specialisation and exchange.

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eco-sem-2.docx