Posted: September 1st, 2015

Market for honey and the role of bees.

Discuss the market for honey and the role of bees in Australia using
externality theory.
First, find out where honey (beekeeping) is produced in Australia. Summarise this.
Then, find out which countries import Australian honey. (Hint: You may like to use a map of the world).
Summarise this.
Discuss what you have found out about the supply and demand (Australian and overseas) for Australian honey
and the positive externality in production in this market.
Then, draw a correctly labelled supply and demand diagram to show this market with the externality (Hint: draw
this diagram in MS Powerpoint using the draw tool, then copy and paste into your MS Word document). Explain
your diagram.
Finally, given the positive externality in production, suggest one way that commercial beekeepers can be
encouraged to produce the optimal amount of honey. Explain your answer.

Discuss the market for honey and the role of bees in Australia using externality theory.

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