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Price regulation in product markets

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Reference no: EM13283

1. Price regulation in product markets - public education

a) Explain what is meant by public education.

b) Using an economic model show how a subsidy in public education works.

c) Describe the impact of public funding of education in a country of your own choice.

d) If a government decides to fund education what important questions must that government address and what would the answers be?

2. Price regulation in factor markets - minimum wage rates

a) Explain what is meant by the concept of a minimum wage.

b) Using an economic model explain how a National Minimum Wage policy works.

c) Describe the impact of a National Minimum Wage Policy in a country of your choice.

d) If a government chooses to implement a National Minimum Wage Policy what important questions must that government address and what would the answers be?

3. Price regulation in international markets - tariffs

a) Explain what is meant by a tariff.

b) Using an economic model explain how tariffs work in a market of your choice.

c) Describe the impact of a tariff in a country of your choice.

d) If the government decides to use a tariff what important questions must the government address and what would the answers be?

Reference no: EM13283

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