Pick a good one to do your assignment on. The good can be a product or a service: Economics Assignment, TCD, Ireland
University | Trinity College Dublin (TCD) |
Subject | Economics Assignment |
Introduction
Pick a good one to do your assignment on. The good can be a product or a service. Give details of your chosen good; include details such as price, size, possible substitutes and/or complements, and marketing/advertising campaigns. In all of the questions, you need to apply microeconomic theory to your chosen good.
Tasks:
Learning Outcome 2
Examine the key factors determining supply and demand and their impact on market price and production
Learning Outcome 12
Construct demand and supply curvesDemand
- a) State and explain the Law of Demand
b) List and explain FOUR factors that may affect demand for your good - a) Explain the difference between a movement along the demand curve and a shift in a demand curve
b) Use a diagram to clearly show a movement along the demand curve
c) What will cause a shift to the right of the demand curve for your goods? – give two examples
d) Use a diagram to clearly show and explain a shift to the right in the demand curve.
e) What will cause a shift to the left of the demand curve for your goods? – give two examples
Use a diagram to clearly show and explain a shift to the left in the demand curve.
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