Explain a real life example where demand and supply changes. Identify which determinant was involved and how the allocation of resources was impacted.
Explain a real life example where demand and supply changes. Identify which determinant was involved and...
For each of the following events, identify which of the determinants of demand or supply are affected. If demand is unaffected by this event because it creates only a supply change, select the “None” option under the “Demand Determinant” column. Similarly, if supply is unaffected by this event because it creates only a demand change, select the “None” option under the “Supply Determinant” column. for the table below here are the options: Demand Determinant: Income, Price of substitude or complement,...
For each of the following events, identify which of the determinants of demand or supply are affected. If demand is unaffected by this event because it creates only a supply change, select the "None" option under the "Demand Determinant" column. Similarly, if supply is unaffected by this event! because it creates only a demand change, select the "None" option under the "Supply Determinant" column. Demand Determinant Supply Determinant Event People decide to have more children. The price of electric small cars...
Explain the effects of a wealth tax using the Aggregate Demand and Aggregate Supply Model? How will the Price Level, Real GDP, and Employment be impacted in the short-run if this first most important policy decision was put into practice? How might the Price Level, Real GDP, and Employment be impacted in the long-run if this first most important policy decision was put into practice? Be detailed, specific, and clear.
Please explain why and how demand and supply may not lead to the allocation of some resources to their best uses. What are the roles that government might play in attempting to correct the misallocation of resources in the market economy.
In the supply & demand model of a market, we predict changes in the equilibrium price and equilibrium quantity of a product associated with changes in the non-price determinants of either supply or demand. On a graph, when there is a change in a non-price determinant of demand, then we show the demand curve shifting to the right or left, depending on whether demand is increasing or decreasing. Similarly, when there is a change in a non-price determinant of supply,...
Question 1 (Inflation and the Macroeconomy) Distinguish between demand-pull inflation and cos (aggregate demand/aggregate supply) model to illustrate the theoretical effects of these two types of inflation on the price level (P), employment (L) and economic growth (real GDP) the short run. Now identify the various factors that have contributed towards demand-pul inflation and cost-push inflation in South Africa and critically analyse whether they are consistent with the predictions of the AD-AS model. (20 marks) Question 2 (Global Developments) Use...
Supply and demand is a concept that helps determine the market price and output. Identify a recent price change that you have noticed when at a store. Explain the determinant in either supply or demand that caused the price to change and why.
share a real-life example where you find it difficult to determine which factors correlate and which are causes of an outcome. The outcome can be positive or negative outcomes.
First, give one real-life example for each of these reaction types. Then, explain which type declines more with normal aging, and why. "simple" reaction time (one stimulus -> one response) e.g. a light changes color (stop or go) "choice" reaction time (two stimuli -> choosing tow different responses) e.g. noise or ight (light hand or foot)
explain how each of the following events changes the demand for or supply of jeans Quiz: Chapter 4 Quiz This Question: 1 pt Explain how each of the following events changes the demand for or supply of jeans. A. A new technology becomes available that reduces the time it takes to manufacture a pair of jeans B. The price of the cloth (denim) used to make jeans falls. C. Jeans come back into fashion. D. The price of a pair...