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Clearly describe the important features of the problem that is being address, including the context (i.e. background to sector/policy)
Which economic theory/concepts are relevant to the questions and how do they relate to the problem being discussed?
Are you correctly using the identified economic concepts to support your arguments
Is the essay well structured* with a clear introduction, body and conclusion? Does it answer all questions? Is it well written? Have you used appropriate references (quantity and quality).
Do you believe the Government should continue to fund the scheme? Upon answering this question, discuss:
Who are the suppliers within this market,
Who demands services within this market, and
Whether the price is set at a level where demand equals supply.
How is the government intervening in the prescription medicine market? What do you think are the objectives of government intervention? Do you think the objectives are being met? Why, why not?
What do you think are the biggest drivers in the variation in surgeon fees? Examine the idea proposed by Medibank. What impact do you think it will have? Why?
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