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From the scenario, scrutinize the key factors influencing the demand for and the supply of a good or service. Differentiate between changes in demand and changes in the quantity demand. Point out the factors which could lead to changes in demand/supply and changes in the quantity demanded/supplied. Find out the sets of factors which could lead to a raise in supply or demand on the one hand and a reduction in supply or demand on the other. Examine the main factors which persuade the supply and demand of the selected good or service. Suggest two methods in which organizations that give the selected good or service might utilize this information. Give a rationale for your response.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M915857

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