Article published: Dec 12, 2019
IB Economics syllabus: Microeconomics (demand & supply, market failure, sustainability)
“The Tamborine Mountain state school has run out of water, even as water miners in the Gold Coast hinterland are sending millions of litres to commercial bottling operations.” This is a great article about an unfortunate case where local water supplies are running low due to the severe drought in the Mount Tamborine area, where residents do not have access to reticulater water (piped-water supplies). You can choose to write about many different economic concepts here (make sure you keep your focus on one or two of these):
- negative externalities of production (i.e. Coca-Cola production leading to no water in the school, parents to be warned to consider not sending their children to school)
- threats to sustainability (think of water supplies: “What might have potentially been a sustainable business at one point in time, that’s no longer sustainable.”)
- resource allocation (should the government intervene perhaps?)
Source of image: Wikipedia
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