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AS Microeconomics EW1


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AS Microeconomics EW1

  1. 1. AS Micro Economics: EW Assignment 1<br />1/ Please read through Chapter 1 of the study companion - The Basic Economic Problem - Scarcity and Choice - annotate and highlight as you wish<br />2/ The Millennium Development Goals set a series of ambitious targets for meeting the basic human needs of millions of people in some of the world’s poorest countries. <br /><ul><li>Research and list in your answer the eight main goals
  2. 2. Head to
  3. 3. Find the latest report on progress in meeting these goals (published July 2011). Open the file (it is a pdf 3mb)
  4. 4. Choose two countries that have made good progress in meeting some or all of the MDG? Choose two countries that are lagging behind. Then put together a brief commentary on this – aim for 300-400 words in total.</li></ul>3/ Explain briefly what is meant by water scarcity ( and explain why it is an economic problem. (200 words approx)<br />4/ Comment piece: <br />You are an environment minister faced with an important economic policy decision. Currently, around one-third of domestic properties in England and Wales are metered. Other people pay water rates but their rates do not depend on how much water is used. The average un-metered bill for 2011/2012 in England and Wales will be £379, while the average metered bill is £325 – though it varies heavily with region.<br />There is a plan in front of you to invest £600 million of extra government spending installing water-meters in all those remaining homes in England and Wales that currently do not have a water meters. Water meters would be made compulsory for all homes.<br />Discuss some of the economic arguments for and against a large investment in water meters for millions of homes in the UK. (400-600 words)<br />Some references for your reading:<br /><ul><li>Water UK – the economics of metering:
  5. 5. Water bills: how you can cut them (BBC) -
  6. 6. Conservationists say homes should cut water use by 20% (BBC news) -
  7. 7. Water meters in all homes by 2030 to ease shortages (Guardian, 2009) -