Q1 In England, the tax on soft drinks was recently introduced. Australians buy 1.30 billion litres of sugar-sweetened drinks per annum (2012 figures). Currently, the average price of these drinks is $1.6/litre. Assuming a sales tax (hypothetical scenario) of 25% on soft drinks the price will be increased to $2/litre. The price elasticity of demand for soft drinks is -0.95.
a) How will the increase in the price of soft drinks affect the demand for soft drinks? How much additional revenue will be raised by this tax?
b) Do you agree with above strategy to reduce consumption of soft drinks? Discuss Why? (Maximum 250 words)
Q2 The private competitive market is used to finance and provide most goods and services in Australia. Health care is an exception to this. Why should health care be an exception? Explain your answer. (Maximum 500 words)
1 Understudy Number: C1159011 Module: CP0324 Q.2 In evaluating present and future lodging necessities how might you recognize the ideas of lodging need and lodging request? Lodging need and request are arranging issues for some nations around the globe, it's critical that "sufficient sanctuary is accessible and available to address the issues of a consistently expanding populace in numerous urban settlements" (David, 2002:31). The task of the UK lodging market has seen issues over late years and is the focal point of much talk (Jones and Watkins, 2009:11). UK strategies plan to address three noteworthy issues of lodging deficiencies, lodging quality and lodging moderateness. Lodging markets can be mind boggling, "lodging markets should supply the correct sort of units and the opportune time in the correct spots" (Downs, 2004:73). Inability to accomplish this raises a few ramifications that have been felt in UK. Despite the fact that lodging lack is ostensibly an image of accomplishment, development and competiveness all essential to making an effective economy (Tallon, 2010:216), it has evident issues. This paper plans to investigate all the more intently the contrast between lodging need and request and also the elements they rely upon for present and future lodging prerequisites. By recognizing the issues that lodging need and request rely on, the article will clarify the impact this has especially in the UK and some conceivable patterns for what's to come. At long last the paper will fundamentally disclose a few ways to deal with evaluating lodging necessities that consider a portion of the issues raised. Lodging need and lodging interest can regularly be confounded yet they have diverse implications. Each family has a lodging need regardless of wage or sort of lodging. Lodging need is portrayed as "the amount of lodging required to settlement of the concurred least standard or more for a populace given its size and family sythesis without considering the family unit `s capacity to pay for the lodging doled out to it" (Robinson, 1979:56-57). This isn't be mistaken for lodging request which is characterized as the connection between "the cost of lodging and the amount and nature of lodging for which individuals are capable and willing to pay" (Shucksmith, 2002:61). An individual or family unit has a neglected lodging need when they neglect to practice successful interest for better than average lodging (Oxley, 2009:6). By fulfilling lodging need it empowers the strengthening of individuals to have the capacity to live in tasteful lodging notwithstanding their conceivable powerlessness to manage the cost of it (Tighe and Mueller 2013:87). Most lodging issues are basically "issues of an absence of successful interest for conventional lodging" (Oxley, 2000:2), It is in this way crucial that the right lodging is worked to address the issues of the populace; this will expand the interest for lodging and assume a critical part in enhancing the economy. Lodging need relies upon different components that will contrast from nation to nation especially in creating nations (Struyk, 1998:21). Right off the bat the populace in the UK is developing; this makes more noteworthy quantities of family units requiring all the more lodging. "Family unit numbers for England are relied upon to develop by a normal yearly rate of 220,000 throughout the decade to 2021" (Wilcox and Perry, 2013:8) appeared in Appendix A, therefore all the more lodging must be worked keeping in mind the end goal to suit this need. 122,590 new homes were begun in 2013 which is a 23% expansion from 2012 appeared in informative supplement B (DCLG, 2014:4). Family numbers are ascending because of populace development putting weight on lodging, foundation, schools and healing facilities (Madden et al. 2010:3). Families are likewise changing, individuals are living longer significance lodging must provide food for elderly individuals, constructing greater retirement lodging could therefore free up family homes for youngsters along these lines tackling some lodging need issues (Best and Porteus, 2012:3). Longer future means Households are remaining together for more, it's currently proposed that 60% of more than 60`s possess their home through and through (DCLG, 2013:18). Family units have distinctive lodging needs, not every person requests a one room house for instance the most widely recognized family between 2011-12 was couples with no reliant youngsters representing 35% of the populace (DCLG, 2013:18). Family unit designs are continually changing after some time, its fundamental along these lines that the right lodging is provided to meet present and future needs, the quantity of one-individual families is relied upon to develop in the UK by 60% by 2025-30 and accordingly this must be tended to (OECD, 2011:29). The way of life is expanding in the UK; this implies individuals now expect more from their homes. A few nations have now "moved from expanding the quantity of units to expanding the nature of units" (Noguchi and Poterba, 1994:224), certain luxuries, for example, twofold coating windows used to be an extravagance now it is relatively expected in many properties. "Quality and reasonableness are enter for lodging in a western culture" (Pacione, 2009:215), the base standard of lodging is rising significance there is a prerequisite for 'good, protected and secure lodging both with new forms and renovations` (GLA, 2013),"Poor lodging impacts straightforwardly on occupants' wellbeing and instructive fulfillment" underscoring the requirement for quality lodging (Wilson, 2010:76). This an issue of new homes as well as of existing lodging both with social lodging and in the private leased area, numerous current social houses were assembled decades prior and accordingly their condition might need in standard. Vale (2013:114) clarifies another weight on lodging models, the expanding strain to manufacture earth inviting and proficient lodging. One of the primary components to evaluating lodging needs is to inspect existing stock as "existing stock normally represents the larger part of staying stocks" (Xue, 2013:65), of which in ribs 83% is in the private division (welsh Government, 2008:26). Current stock must be assessed while thinking about ascertaining lodging prerequisites for the present and future; this is clarified later in the article. This at last leads onto the sort lodging required; "the most concerning issue is that as a nation we are just not fabricating enough reasonable homes" (Shelter, 2013) and in this manner people in general needs are not met, the kind of houses assemble ought to likewise mirror the populace's family unit structure. Lodging request is influenced by a few separate issues to lodging need, understanding these issues is essential for present and future request to be met. Right off the bat and above all the supply of lodging isn't tending to the UK's request, "there are insufficient reasonable houses in the economy" (HCTC, 2013:75). The Government sets focuses for the quantity of houses which should be constructed yet these are infrequently taken care of and the demand continues expanding, "half of London's biggest improvements are not meeting the reasonable lodging targets being set by neighborhood specialists" (BBC, 2013). In spite of its significance, "lodging is yet to have an indistinguishable political profile from wellbeing and instruction" (Wilson, 2010:76). One of the principle issues with respect to lodging request not being met is that private designers won't construct lodging they won't have the capacity to offer and in this way another purpose behind more reasonable lodging (Empty Homes, 2014). Lodging supply must be ascertained for advancement, for instance taking passings and existing stock into thought. House costs additionally influence lodging request, there are insufficient houses being provided at the correct cost to take care of the demand in this way the cost of lodging ascends as individuals who have cash will pay to have a decent house bringing about "expanding quantities of individuals being evaluated out of the market" (Stephens, 2011:6). "Falling house costs because of the subsidence have not tackled the issue of moderateness as they have been joined by more tightly loaning criteria" (Wilson, 2010) particularly with stores, thus the assistance to purchase plot was presented. Lodging request relies upon a few different factors, for example, pay and riches, these terms are altogether different to a financial analyst; riches speaks to the gathering of monetary assets important to a family unit where pay is a stream measure of capital over some undefined time frame (Pozdena, 1988:25). Riches and pay can offer access to credit advances and home loans, "credit access and home loan accessibility go far to advancing higher quality and reasonable lodging" (Nothaft and Erbas, 2002:12). Because of the credit emergency numerous individuals' wage and riches have been influenced, this has affected the lodging business sector and individuals' capacity to request lodging. Besides the accessibility of credit and acquiring contracts is something that has brought about family units being not able manage the cost of lodging. Moneylenders take a gander at current pay and budgetary resources since they speak to quantifiable pointers of a borrower's methods for reimbursing the advance (Pozdena, 1988:26). The supply of cash in the economy will influence contract financing costs and accessibility. "Individuals are landing second positions when loan fees ascend to adapt to higher home loan reimbursements" (Telegraph, 2013), subsequently this has prompted numerous individuals not having the capacity to bear the cost of the lodging provided. There are numerous variables adding to lodging need and request however "unique needs may warrant diverse arrangements" (Bramley et al, 2010:17), not every person should be furnished with social convenience maybe the issue can be understood by improving or adjusting a current property. Subsequently there are a few unique models that can be utilized to survey lodging necessities. The main way to deal with be examined is the family unit and abiding monetary record, this is a straightforward method to uncover lodging deficiencies or surpluses (DoE, 1980:56), it basically thinks about the quantity of families to the quantity of residences. This technique may demonstrate a deficiency or surplus however doesn't consider numerous other reality>GET ANSWER