PLEASE HELP ME!!!!!!
In 2021 the Brisbane property market recorded a price growth of 30+%, and 7.2% increase in the first quarter of 2022. The Labor Government announced a “shared-equity” scheme that would help 10, 000 households per year to buy a home with the government holding 30 or 40% of the ownership. a). Identify the key supply and demand side factors that drove up Brisbane’s median property price in 2021. Use a supply and demand graph to support your answer (5 marks). b). Explain the concept of economic efficiency. Give your definition on equity (fairness). Given that the shared-equity scheme is capped at 10,000 places, discuss what allocation methods can be used to decide which households should be eligible to participate in this scheme. Are these allocation methods fair? Explain (5 marks).
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