Microeconomics Concepts Elasticity of Demand and Supply Assignment

Aim:
The aim of this assignment component is to examine the learning processes and communication skills, as well as, be able to make connections between theory and practice. This assignment is also designed to encourage them to become reflective practitioners in their future fields.
ASSIGNMENT QUESTION
You will be required to do ONE (1) Reflective Writing task based on microeconomics application in the real world. The reflective writing is meant to be open-ended and informal, yet creative.
The word count for the report must be approximately 1500 words. Details of the task and respective due date are given below.
Task
1. Reflect ANY FOUR (4) microeconomics concepts of your own choice based on ANY ONE (1) of these topics:
i)The Economic Problem, Nature and Method
ii)Demand, Supply, and the Market Environment
iii)Elasticity of Demand and Supply
iv)Government Intervention in the Market
v)Technology, Production and Costs
2.Discuss on how these four concepts affect the behavior/activities of individuals, families, firms, and governments (you can choose only one group or a combination of two/more groups).
3.Your discussion of each concept MUST be supported with appropriate real-world examples (you may use as many examples as possible; however, your reflective writing must be of a good standard/quality). Citations and references may be included as and when necessary.
*** Words count = 1500 words.
*** In-Text Citations and References using Harvard style.
*** Graphs and other diagrams must be generated in MS Word/PowerPoint.

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