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Business Economics Question 3: Inelastic Price Elasticity of Demand and Supply

   

Added on  2020-06-04

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Business Economics
Business Economics Question 3: Inelastic Price Elasticity of Demand and Supply_1
Table of ContentsQuestion 3........................................................................................................................................1a) Inelastic price elasticity of demand.........................................................................................1b) Demand and supply diagram...................................................................................................2c) Reasons for shift in demand and supply..................................................................................2d) Market structure of Duck and dry...........................................................................................3e) Difference between movement along the supply curve and shift in the supply curve............3Question 4........................................................................................................................................4a) One market failure and government intervention in correcting that failure............................4b) Relation between Gross Domestic Product (GDP) and economic growth..............................4c) Factors contributing to positive growth...................................................................................5d) Expansionary fiscal policy......................................................................................................5e) Monetary policies to deal with higher inflation.......................................................................5Question 5........................................................................................................................................5a) Impact of appreciation in Pound on imports of Duck and dry................................................5b) Restricting devices..................................................................................................................6c) Advantages and disadvantages of global expansion................................................................6d) Benefits for trading in free trade area......................................................................................6REFERENCES................................................................................................................................7
Business Economics Question 3: Inelastic Price Elasticity of Demand and Supply_2
Table of Figures Figure 1Inelastic price elasticity......................................................................................................1Figure 2Increase in demand.............................................................................................................2Figure 3Increase in demand and supply..........................................................................................2Figure 4Movement along the supply curve.....................................................................................3Figure 5 Shift in the supply curve....................................................................................................4
Business Economics Question 3: Inelastic Price Elasticity of Demand and Supply_3

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