PURPOSE This Individual Assignment relates to the following Learning Outcomes: • Knowledge and Understanding: recognise how principles of microeconomic is relevant in understanding decision-making by economic agents. • Problem solving and critical thinking: Demonstrate creativity and critical thinking and the ability to apply theoretical understanding of microeconomics to real life economic problems. • Ethics: Demonstrate ability to evaluate economic theory and real world applications in the context of equity considerations (rubric given below). • Communication: Develop communication skills to effectively demonstrate the understanding of economic ideas and professional presentation with the help of quantitative and visual support.