This report is about examining the demand and supply and the effect of an external shock on a specific market, in this case it is the cigarette market and the shock is advertising ban and plain packaging in Australia. The report is about 4 pages in total .
Examine how the circumstances in the tobacco market can be represented using basic demand and supply analysis. Identify how the tobacco industry responds to the advertising bans and plain packaging for cigarettes in Australia. Use diagrams to explain shifts in the supply demand
At the very least your report should include:
• A brief description of the market, including the interconnected markets (using no more than 2 additional interconnected markets) and what the demand and supply drivers are. Very Brief description no more than 1 page
• Discussion of demand and supply conditions in cigarette markets in Australia use demand and supply curves. Talk about supply and demand drivers. Explain the market in good details …… around 2 pages.
• Explain the elasticity in both supply and demand in the cigarette market in Australia, use curves to explain… about half a page
• Briefly explain cross price elasticity, use alcohol consumption as a substitute or a complementary product… about half a page
Concentrate on using the basics ideas of demand and supply, supported by relevant data, not collecting masses of primary information. Also ENSURE THE INFORMATION IS RELEVANT TO AUSTRALIA
Please ensure that no less than 7 references are used in this report. The references have to be related to Australia, and easily accessible to verify. Use Harvard in Text Referencing
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