Q. 1. Elucidate what impact on quantity demanded and supplied for cars will be if oil costs rise to $200 per barrel. Illustrate what about if extreme recessionary conditions prevail?

2. federal government has decided to adopt a free trade agreement on cars imported into Australians in six months time. Elucidate how you think this will affect cost and quantity demanded and supplied of imported cars into Australia before free trade agreement is applied and after it is applied.

3. Previous coalition federal govt. introduced legislation called work choice which substantially changed long-standing industrial relations laws in Australia. in 2009 fair pay legislation replaced work choices. Briefly describe both se laws and outline Illustrate what you perceive would have been/are likely to be effects of se changes.