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Market Prices

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Introduction

Can governments control market prices? State your opinion and justify it by finding an article/link to back up your position. Even if you don't have a position still contribute as its worth 10 progress marks. I believe the Government can control market prices. Ways that this can be achieved by the Government include price ceilings (where the market price has a maximum that it can reach) ...read more.

Middle

The Government can intervene in Market Prices, however, sometimes large measures are needed to be taken in order for the Government to realise that intervention is needed. Example: Protests. An article that supports this is theory is from 'The Age' called "Call for federal intervention on wool boycott" by Lorna Edwards (March 12, 2008). This article examines the European boycott of Australian wool. This boycott, has lead to low prices for wool. ...read more.

Conclusion

The Australian Government bought the wool at the price floor. However, this was not the best option for the Australian Government. This resulted in the Government owning many warehouses containing bails and bails of wool. The Government can also intervene by implementing economic stabilisation policies. These are called macroeconomics policies. These policies aim to help the economy maintain a sustainable rate of economic growth. Example: Fiscal policy, Monetary policy. Overall, I believe the Government can intervene, and often does. On the other hand, sometimes measures are needed in order for the Government to take the action needed. ...read more.

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