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For example, utilizing Coke-Cola the following could cause a decrease in demand.
1. People decide that they like Coke less than before maybe because they like water more.
2. There is a decrease in the number of buyers of coke.
3. Incomes fall and Coke is a normal good.
4. The price of Pepsi falls.
5. People buy less Coke because they expect the future price fo fall. Any of these factors cause a leftward shift in demand. Conversely, a decrease in quantity demanded results only from an increase in the price of coke. Why has the demand for cokes in the market fallen? What has helped market demand?
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
Case study analysis about optimum resource allocation: - Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..
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Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..
Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:
Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..
"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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