[PDF] demand and supply questions tutor2u

  • What are the 4 things that can happen to supply and demand?

    Factors affecting the level of demand
    Prices & Incomes (you look at this in more detail when considering elasticity of demand) Tastes & fashions.
    Competitor actions.
    Social & demographic change.

  • What are the factors affecting demand tutor2u?

    These include, but are not limited to, the income elasticity of demand, the cross-price elasticity (the elasticity of the price of a good with respect to the price of another good), the elasticity of substitution between different factors of production (for example, between capital and labour), and the elasticity of

  • What are the topics of supply and demand?

    The law of supply and demand combines two fundamental economic principles describing how changes in the price of a resource, commodity, or product affect its supply and demand. As the price increases, supply rises while demand declines. Conversely, as the price drops supply constricts while demand grows.

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