CSEC Economics SBA Title of Project A comparative study of the demand for KFC and Japs at a particular high school between the period September 5 and 26‚ 201 1 Comments The Title The title of the project was clearly stated. It was a micro-economic topic and was appropriate for this level. The full two marks were awarded. Puiose of the Project Three objectives were adequate although seven were listed. awarded. The full three marks were Collection of Data Five sources of data collection
Premium Supply and demand
State the factors affecting the price elasticity of demand? The type of product will affect the price elasticity of demand i.e. a necessity such as petrol will have a inelastic demand as it is a must have for consumers so a change in price will cause only a minor change in price whereas if a product is not a necessity for consumers it will have an elastic demand meaning a small change in price could lead to a greater change in quantity demanded The proportion of the consumers income spent on a product
Premium Supply and demand Price elasticity of demand Elasticity
days B. work fewer hours than they will on slower days C. work more hours than they will on slower days D. not work any hours 12) A firm’s demand for labor is derived from the A. opportunity costs associated with labor and leisure B. desires and needs of the entrepreneur C. cost of labor inputs D. demand for its output 13) Owen runs a delivery business and currently employs three drivers. He owns three vans that employees use to make deliveries‚ but
Premium
An Economic Analysis of a Rise in Alcopops Tax Joy Gu Contents 1. Introduction……………………………………………………………………….4 2. Government Policy and Tax……………………………………………………..4 2.1 Taxation……………………………………………………………………….4 2.2 Bans on alcohol advertising………………………………………………….5 2.3 Brief interventions for reducing hazardous alcohol consumption………...6 3. Supply and Demand……………………………………………………………...7 3.1 The Demand Curve…………………………………………………………..7 3.2 Shifts in the Demand Curve…………………………………………………7
Premium Supply and demand Alcoholic beverage Alcoholism
Family Family is defined as unconditional love‚ unconditional help and less selfishness. Authors Jodi Picoult and Kim Edwards prove that this is not always true. Picoult the author of My Sisters Keeper argues that when an individual is affected by illness‚ family will do whatever it takes to save them because when a family falls apart one’s life shortly follows. Edwards argues a similar case in her novel The Memory Keepers Daughter that all it takes is one selfish act to change the direction of
Premium American novels Family Nineteen Minutes
Which is not characteristic of a product with relatively inelastic demand? A) The good is regarded by consumers as a necessity. B) There are a large number of good substitutes for the good. C) Buyers spend a small percentage of their total income on the product. D) Consumers have had only a short time period to adjust to changes in price. Answer: B 2. The demand for Cheerios cereal is more price-elastic than the demand for cereals as a whole. This is best explained by the fact that:
Premium
1(a) Explain the key demand side drivers of price for oil. In recent years‚ the fluctuations of oil prices have gotten the attention of the whole world. From $20s in 2003‚ it hit a mid-term peak of $148 in mid 2008‚ then fell to $30 during early 2009‚ and now back to $70-$80. Economic principles have demonstrated that the rise of oil price is a function of lack of supply and greater demand. We know that oil is lack of supply since there’s no major oil field found in the last 40 years and oil
Premium Petroleum Pricing OPEC
The Changing Price Elasticity of Demand for Domestic Airline Travel Consumers make economic decisions as to what they buy based largely on price. More specifically‚ the change in the amount of a good purchased is often highly dependent on its change in price. That measure of responsiveness is defined as the price elasticity of demand. Mathematically‚ it is often expressed as: Ed = - percent change in quantity demanded / percent change in price‚ or -(dQ/Q)/(dP/P). The minus sign is often
Premium Supply and demand Inflation Price elasticity of demand
Ticket Escalation NT1230 Ticket Escalation Policy Due to the amount of support issues at hand and how the IT team prioritizes them are important to making company time and money manageable for the company as for the IT team. We have gotten together to discuss the matter at hand and have come up with ways to delegate the issue of tasks not being addressed in a timely matter. We apologize first hand if your needs haven’t been met‚ yet I assure that this ticket escalation policy we
Premium Help desk Problem solving Technical support
ummary Of The Lottery Ticket If you are questioning how overnight millionaires go about selecting profitable lottery phone numbers then you shall wonder no a lot more. Right here are some tips and hints that you can surely use when it is available to finding lucky lottery sums. Summary Of The Lottery Ticket Seeking to decide what denominations to pick can be a highly stressful and complex specifically when there are millions of dollars at stake. You have to assume that lottery is a random thing
Premium Lottery Mega Millions