-600075-447675Assessment 2 Workbook
-600075-447675Assessment 2 Workbook
00Assessment 2 Workbook
left-91249500
-688768138818BUSM2562 Understanding Business Environment:
Assessment Task 2
00BUSM2562 Understanding Business Environment:
Assessment Task 2
-684737212917Name
Student ID
00Name
Student ID
Student instructions
Download and save this workbook to your device using First Name_Surname_ Assessment 2 naming conventions.
Read through all (7) seven deliverable task items.
Input your answers in the allocated answer box where possible. If you cannot input your task into a Word document, please attach as a separate file when submitting to Canvas.
Do not delete action task items in the template. All tasks are compulsory.
Save your answers, ensuring you are using file naming conventions and upload your file/s through Canvas submission.
Task List
Read through your compulsory set of tasks below. It is important to complete your tasks as per order below.
Task 1: Project plan 1 point
Task 2: Academic articles 6 points
Task 3: Summarise Findings 3 points
Task 4: Demand & Supply 7 points
Task 5: Client profit 5 points
Task 6a: Negative externalities on fast food ---
Task 6b: Summarise negative externalities 4 points
Task 6c: Negative externality: Consuming too much fast food 8 points
Task 7: Positive externality 6 points
Deliverable Task List
Please read the deliverable tasks below. You are required to complete all of these tasks. Input your answers directly into the workbook.
Project plan
Task 1 | Project plan Point value
You are required to set up a project plan that outlines all the below tasks in the lead up to the Australian Conference of Economists (ACE). Your project plan should outline all the tasks in order of completion.
You will need to allocate a timeline with achievable deadlines when you are completing each of the tasks. This will help us all keep on track.
You can use any software, excel, Microsoft planner, SharePoint, one drive, RMIT assignment planner or even a Kanban board. The software choice is up to you. It just needs to be presented in a software that is easy for us to follow and highlights all the task names, quick details of the task, the date it is due and who is responsible completing it. Feel free to add branding and colours to your project plan.
Extend yourself: Please remember that we are here to help and give you feedback. If you would like to set up your project plan first and submit to your mentor (tutor) for additional feedback, please do so with ample time to allow your tutor to get back to you. 1 point
Format Evidence of Project Plan
Answer box Point value
<Submit your project plan link and/or a screen grab here>
Academic articles
Task 2 | Academic articles Point value
Our client, Healthy Burgers!, is particularly interested in discussing the proposed benefits of a fruit and vegetable subsidy.
You are required to research, find, and choose five (5) of the latest articles discussing "fruit and vegetable subsidies. Please only focus on academic articles by using Google Scholar material and only from the year 2000 onwards. (Please use RMIT Harvard referencing style).
It is important that you provide us with an overall summary on top of the bibliography highlighting what criteria you use to pick the most relevant 5 articles. The internet is full of information, and this can be either a good thing or a bad thing. Being able to discern the difference between high quality and low-quality information is very important.
Finally, for each article provide a brief explanation (up to 100 words) as to why you think we need to include it in our literature review.
6 points
Format Evidence of articles | Reference list and article links.
Answer box Point value
<Please enter your response here>
Summarise findingsTask 3 | Summarise findings Point value
You are required search for the below article and summarise the findings in approximately 200 words.
Based on this article, what advice do you have for your client, Healthy Burgers? (Hint: should it lobby the government for a subsidy?).
Article:
Blakely, T., Cleghorn, C., Mizdrak, A., Waterlander, W., Nghiem, N., Swinburn, B., ... & Mhurchu, C. N. (2020). The effect of food taxes and subsidies on population health and health costs: a modelling study. The Lancet Public Health, 5(7), e404-e413.
3 points
Format Evidence of findings | Reflection (written)
Answer box Point value
<Please enter your response here>
Demand, Supply & Taxes
Task 4 | Demand, Supply & Taxes Point value
Our client is interested in highlighting to the government that taxes are generally associated with a loss to society. To do so, please create two demand and supply diagrams to show the effects of a "tax".
In the first diagram show consumer and producer surplus with not tax.
In the second diagram introduce the tax and identify consumer surplus, producer surplus, government revenue, and the deadweight loss.
Below, using three (3) dot points briefly summarise what happens to consumer and producer surplus and relate that summary to the deadweight loss.
7 points
Format Evidence of findings | Written reflection.
Answer box Point value
<Please enter your written response or link to your audio/video response here>
Client profit
Task 5 | Client profit Point value
In a recent meeting between the government and our clients CEO, the government has deemed that Healthy Burgers actually specialise in producing a range of unhealthy (high fat, high salt, high sugar) products. This mean that as far as the government is concerned a proposed fat tax, rather than a fruit and vegetable subsidy, would apply to their products.
Using a simple equation tell us how the tax influences Healthy Burgers profit. Discuss what happens to prices, quantity, and costs. Please do so in no more than 150 words.
5 points
Format Evidence of client profit | Reflection (written)
Answer box Point value
<Please enter your response here>
Negative externalities and fast food
Task 6a | Negative externalities and fast food
Watch the videos on Externalities found in your Assessment 2 brief (under Learning Resources) in Canvas.
See Task 7b below for reflection requirements.
Negative externalities and fast food
Task 6b |Explain the concept of negative externalities Point value
In no more than 200 words, briefly explain the concept of negative externalities.
Does eating too much fast food generate a negative externality? Why or why not? 4 points
Format Evidence of negative externalities | Reflection (written)
Answer box Point value
<Please enter your response here>
Negative externalities and fast food
Task 6c | Negative externality: Consuming too much fast food Point value
Create two demand and supply diagrams to demonstrate the following:
In your first diagram show the negative externality of consuming too much fast food. Carefully label your diagram and identify the deadweight loss.
In your second diagram add a tax to this market. Highlight what happens to consumption.
In a dot point below your last diagram briefly tell us whether the second diagram has a deadweight loss.
8 points
Format Evidence of negative externality of consuming too much fast food | Reflection (written)
Answer box Point value
<Please enter your response here>
Positive externalities
Task 7 | Positive externality Point value
Our client argues that "eating fruits and vegetables generates a positive externality." Discuss whether this is the case and how a subsidy can address this. When discussing please do not use a graph, please prepare a 200-word statement.
6 points
Format Evidence of positive externality | Reflection (written)
Answer box Point value
<Please enter your response here>
