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BSB113 Research Essay

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This essay includes an analyse of the social issues of gambling, how gambling effects economic efficiency and how taxes have fix such inefficiency.

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BSB113 Research Essay
Topics this document covers:
Microeconomics Economy Economics Market failure Public economics Welfare economics Costs Externality Pigovian tax Problem gambling Gambling Social cost
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Topics this document covers:
Microeconomics Economy Economics Market failure Public economics Welfare economics Costs Externality Pigovian tax Problem gambling Gambling Social cost
Sample Text:
This addiction and its consequences have a negative impact on the efficiency of Australia’s economy. This research essay aims to understand what costs gambling has on society, how these costs influence the equilibrium of the economy and policies that assist the Australian Government in achieving a balance between marginal benefits and marginal costs. Australia’s population disbursed approximately $22,733,954.00 on gambling activities in 2016, equating to $1,241.86 per capita (Queensland Government, 2016). Such expenditure is prodigious to other industrialised capital countries as shown in Model A, thus signifying that there is a gambling problem in Australia (The University of Sydney, n.d.). The (in)direct effects of gambling can corroborate this contention. Direct effects afflict over 200,00 Australians who are prob...
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