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Sample Assignment on Economics

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Added on  2020-01-07

Sample Assignment on Economics

   Added on 2020-01-07

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ECONOMICS
Sample Assignment on Economics_1
Sample Assignment on Economics_2
Question 1a) High fuel efficient petrol carsIn the first case, the supply of petrol is less but the quantity of demand will be high whenthe price of a fuel is higher as there is no substitute available for the car's consumer (Reyes andSawyer, 2015). b) Car use liquid caseIn that second case, the demand of petrol is less when the liquid gas price has notincreased as it is a substitute of car. The customer will prefer to choose liquid gas rather thanpetrol as it the price is higher. Question 2a) Normal good beef if the income level increaseThe Beef is a normal good so, if there is an increase in the income level than the demandof such type of product will be increased (Gomes and Sweeney,c2014).
Sample Assignment on Economics_3

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