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  ECON1086: Business in a Globalised Economy Assignment

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Added on: 2023-04-06 08:39:22
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Week 2 Tutorial Solution

The jury is still out on whether the CPTPP benefits everyone.

  1. How do economists generally compare levels of economic development between two countries?
  1. Is this a good measure of economic development? Why or why not? Discuss
  1. How do economists generally compare globalisation (openness) between two countries and why?
  1. Use this website to show openness in a few countries –
  1. Explain openness in words àhow would you explain this to someone in year 11 of high school?  [Practice explaining things intuitively, you’ll need this at work]
  1. Run a quick overview of consumer and producer surplus.Please revisit the tutorial solution of week 1 in this regard
  1. Using a demand and supply diagram explain the welfare implications of a deal that lowers the price of imports.
  1. Using a demand and supply diagram explain the welfare implications of a deal that raises the price of exports.
  1. Imagine that you work for a major Australian confectionary company that specialises in fruit-based candies. You hear that Australia is looking to sign a Free Trade 
  1. What are FTAs, and who benefits from them?
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