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Highlight eight reasons for price control in an economy

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1. Explain five factors that demand the price elasticity of supply of a commodity

2. Enumerate six factors that could lead to a rightward shift of the supply curve

3. Explain the term "price control " as used in economy

4. Highlight eight reasons for price control in an economy

5. A)explain the term elasticity of supply

b) summarize three applications of elasticity of supply in an economic decision making

6. Differentiate between partial equilibrium analysis and general equilibrium analysis as used in economics

7. Differentiate between giffen good and 'inferior good'

8. With reference to demand and supply analysis identify six effects of fixing the maximum price of a commodity below the equilibrium price

9. Outline six assumptions underlying the derivation of the demand curve

10. Outline five determinants of the elasticity of supply

11. Describe six factors that might cause a shift of the supply curve in an economy

12. Summarize five exceptions to the law of demand

13. Distinguish between 'own price elasticity of demand ' and 'cross price elasticity of demand'

Reference no: EM132876391

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