Reference no: EM132874796

The assertion that conflict is inevitable, functional. Discuss this.

Also include a normal situation in organizations.

1. Using specific examples, explain 'ceteris paribus' as used in economics

2. Why is the consumer said to be sovereign?

3. What factors limit this sovereignty

4. Explain the difference between "inelastic demand" and "unitary elasticity of demand"

5. State three reasons why the demand curve slopes downwards

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

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

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

9. Highlight eight reasons for price control in an economy

10. A)explain the term elasticity of supply

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

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

12. Differentiate between giffen good and 'inferior good'

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

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

15. Outline five determinants of the elasticity of supply

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

17. Summarize five exceptions to the law of demand

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

19. Outline four factors that would lead to a rightward shift in the demand curve