Final Written Report

For this part of your coursework you are required to write a report on the following topics related to microeconomics:

A clear explanation of the difference between a free market economy and a mixed economy

A clear explanation of a change in quantity demanded and a change in demand

A clear explanation of income effect and substitution effect

A clear explanation of consumer surplus and producer surplus

A clear explanation of the difference between normal goods and inferior goods

A clear explanation of the difference between indirect tax and subsidy.

You must always use examples and diagrams to clearly explain and illustrate your points

The number of words for the report is between 800 - 1000.

Clear sections and paragraphs must be used in each topic. Information used from other sources need to be clearly referenced in your report to the original sources. You must provide a list of reference or a bibliography at the end of the report.