English Essay

Submitted By Mario-Attard
Words: 991
Pages: 4
Open Document
15/04/2014

Dr Louise Fitzgerald
Education Development Unit

ECON1101
In-class Test, week 8

The goals of Test 2

Knowledge (ASB Learning Goal)
Explain the assumptions of standard models of microeconomics. Explain the different market environments in which individual, social and government decisions are made.
Explain the reasons for and outcomes of government intervention in the economy.

1

15/04/2014

The goals of Test 2

Critical thinking and problem solving
(ASB Learning Goal)
Use the standard models of microeconomics to determine the outcome of changes in a variety of economic variables. To use simple mathematical models to calculate the result of changes in the economy.

The goals of Test 2

Written communication (ASB Learning Goal)
Construct written work which is logically and professionally presented

2

15/04/2014

Sample Question
“A chemical manufacturing company uses a production process which takes clean water, at no cost from a river and then releases it back as dirty water into a lake where a commercial fishing fleet operates.”
1. Use a simple demand and supply diagram to help explain with reference to the paragraph above why the existence of externalities means that the market will provide an inefficient outcome.
2. Use your diagram to help explain what policies the government might use to correct the externality.

Marking Rubric
Good

Criteria

Accuracy and relevance of information Below
Average

Information is appropriately and accurately selected to fully answer the question.

Structure and relations in text Average

Text is well-structured, coherent with logically sequenced sentences and appropriate transitions. Text adds meaning to the diagram through elaboration and interpretation.

3

15/04/2014

Good

Average

Below average Diagram is clearly set out and
Use of diagram, labelled, curves with correct shape and slope. The diagram is located graph in the appropriate part of the text.

Clarity, grammar, spelling

All sentences are complete and grammatically correct. Expression is clear i.e. appropriate terms and, academic language is used throughout. There are minimal spelling errors.

Model answer: well structured, coherent, logically sequenced
An externality is an unintended cost or benefit which spills over to people other than those who undertook that activity The paragraph above is referring to the presence of a negative externality in the production process. This means that the producer of the good is creating spill-over costs on to other agents in the market. In this case by polluting the river he is reducing the fishing stock and thereby affecting the catch and the revenue of the fishing industry.
He is creating costs which fall on to another producer.
Efficiency in the market refers to the fact that when there is a perfectly competitive industry with perfect knowledge and when the demand curves captures all the benefits and the supply curve captures all the costs; the operation of the price mechanism leads to a Pareto efficient situation where one person cannot be made better off without another person being made worse off. This also means that economic surplus is maximised. A position that is not efficient is inefficient.

4

15/04/2014

Use a simple demand and supply diagram to help explain… The diagram below depicts the market when an externality is present

why the existence of externalities means that the market will provide an inefficient outcome …
On the diagram above, PMC is the Private l Marginal Costs while SMC represents the Social Marginal Costs (which is PMC with the external costs added). These external costs are the costs which are created by the chemical company but which are borne by the fishing industry.
The demand curve (D) is both the Private Marginal Benefit curve and the
Social Marginal Benefit curve because there are no
Show More

Related Documents: English Essay

English Essay

English essay How dose Shakespeare present love in much ado about nothing. There are many different of love and we experience them in our lives. Family love, friendship love and romantic love are parts of everyday life and this is what Shakespeare was presenting to this audience in much ado about nothing. We get a sense of the relationships presents through the dialog of the characters, for example when leonato and hero talks as farther and daughter. Shakespeare also shows us romantic love through…

Words 867 - Pages 4

English Essay

English Essay THESIS- These texts reflect the experiences of men and women in previous society’s Intro – Introduce texts dramatic SCND, and poetic in MLD and PL Displays imbalance of power, gender (female repressed in pat society) Text explores beliefs and values of love, poverty, social repression and class structure. Study texts Power structure within pat society Time period Renaissance and post modern Thesis. MBP-1 Street Car Named Desire By Tennessee Williams - Topic sentence- In…

Words 962 - Pages 4

English Essay

English Essay Thomas Jefferson once said, “The care of human life and happiness, and not their destruction, is the first and only object of a good environment.” However, in ‘Lord of the Flies’, William Golding precisely portrays the truly destruction within humans. He also illustrates the collapse of society and peaceful civilization through dissension among the group. In addition, the ‘Lord of the Flies’ is an extraordinarily fierce and bloody novel that illustrates a group of British boys, from…

Words 734 - Pages 3

English Comparison Essay

English 101 FG Fall 2013 Tuesdays and Thursdays: 9:20-10:50 Instructor: Jamison Spencer Email: jspencer36@ccc.edu Office: 2753 Office hours: By appointment and: MW 9:45-10:45 and Tues 11:00-12:00 Truman College Mission Statement Our Mission dedicates us to deliver high-quality, innovative, affordable and accessible educational opportunities and services that prepare students for a rapidly changing and diverse global economy. Truman College General Education Goals In this course…

Words 1820 - Pages 8

English Essay

When analyzing a commercial, one should be aware and have a speculative mind. Commercials can attract many different audiences. It depends on how it is directed and what assumptions the director makes about the audience. There are multiple things that could appeal to a certain audience such as different types of scenarios that the audience can relate to and the way people react in those situations. Sometimes to express these concepts a commercial needs to be crazy. Throughout the years, the…

Words 1017 - Pages 5

English Essay

Julius Caesar The responsibility of power effects the environment of human nature by causing destruction and heartbreak; readers also learn that power damage a majority of all relationships. In the play, Julius Caesar by William Shakespeare the theme of corruption can make someone so arrogant that with the right amount of power it can lead to death. First, Brutus is a man whose motive is honorable even if people do not understand it. Next, Cassius envies Caesar's authority and power Last Anthony…

Words 681 - Pages 3

English essay

The late night sky glistened in the lights of the stadium. The full moon glared at me as I prepared myself for the toughest challenge that I will ever have to face, which stood between me and a grand final victory. 53 metres out, 15 metres from the sideline, 1 point down, siren had already blown, adversity staring me straight in the eyes. I try to bloke out the millions of screaming fans yelling at the top of their lungs. Half are holding their breath whilst others are trying to put me off my game…

Words 1332 - Pages 6

english essay

Katy and Becky were two typical American teenaged girls. After school, they spent all of their time together, watching scary movies, having sleepovers, shopping for new clothes. They liked partying, keeping up with their friends , having fun and enjoying life. They had no way of knowing the horrible fate that life had in store for them. Then one stormy, cold night katy and chloe decided to have a girls night out. They planned to sneak out to a nightclub as soon as their parents went to sleep.…

Words 1062 - Pages 5

English Essay

* 作文替换词 得到，付出 付出 给 Give, offer, endow, endue, present, bestow, provide, supply, furnish Impart, instruct, apprise, teach, instill, inculcate, Proffer, confer, donate, contribute, subscribe, bequeath, Issue, flow out, release, 支出 Cost, spend, pay, pay out, expend, disburse, Prodigal, profligate, splurge, spendthrift, dissipate frugal, scrimp, skimp, abstemious, Expenditure, subvention, 归还,偿439 Return, hand out, restore, reciprocate, remunerate, revert, Compensate, reimburse, indemnify…

Words 995 - Pages 4

English Essay

Essay Chapter 149 of Mark Haddon’s 'A Curious Incident of the Dog in the Night- time' can be seen as an important turning point in the novel as a whole. In this essay I am going to examine, explore how, I intend to examine how Haddon presents two characters, Christopher and his mother in this chapter. There are a number of ways in which Haddon presents the character of Christopher. For example, Christopher uses simple language. In his narration of the novel, He is also very repetitive and…

Words 761 - Pages 4