economic principles 2000 words 392753

Economic Principles (BBAC202) Group Assignment (Group of Three) CAMBRIDGE INTERNATIONAL COLLEGE Economic Principles BBAC202 October 2013 Economic Principles Assignment Topic Objectives: The Assignment aims to develop your knowledge and skills in the following areas: Comprehension and understanding Critical thinking and analysis Understanding of Market Economies Researching articles, books, online materials, and journals Due Date: Session 6.1 Hard Copies only – No Electronic Submissions Students are again reminded to use appropriate referencing, to acknowledge use of other’s ideas and statements, to avoid plagiarism and any copyright breaches, and to follow the instructions below. Students are to work in Groups of Three The length of the assignment is to be approximately 2000 Words. The word count does not include references or bibliography. Reference using Harvard/APA The word count must be specified on the front head sheet of the assignment. Your task is to read the following scenario and provide answers to the following questions. You need to answer each question as well as each part of the question. The Assignment is made up of questions worth a total of 25% of your final marks. Different countries have different types of economies as outlined in Chapter 2 of your textbook. For Example: `Australia, France, The USA and South Korea have market economies North Korea, Chin, Cuba and Laos have Command Economies Sweden, Norway, Iceland and Finland have Welfare Economies Your assignment is to research the Australian Economy and compare it to an Economy that is a Command Economy AND a Welfare Economy. You may choose from countries in the lists above, or chose countries of your own. Please state which countries you are using. PART 1 (7 marks) For each country complete the following table:  ?Australia?Country 1?Country 2??Total population? ? ? ??GDP/capita? ? ? ??Labour force? ? ? ??% of population working in…