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summary unit 2
demand, supply, markets, income elasticity of demand, price elasticity of demand.
[Show more]demand, supply, markets, income elasticity of demand, price elasticity of demand.
[Show more]a)Calculation of income elasticity of demand 
b) Interpretation of numerical values of income elasticity of demand 
c) The factors influencing income elasticity of demand 
d) The significance of income elasticity of demand to businesses
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Add to carta)Calculation of income elasticity of demand 
b) Interpretation of numerical values of income elasticity of demand 
c) The factors influencing income elasticity of demand 
d) The significance of income elasticity of demand to businesses
a) Calculation of price elasticity of demand 
b) Interpretation of numerical values of price elasticity of demand 
c) The factors influencing price elasticity of demand 
d) The significance of price elasticity of demand to businesses in terms of implications for pricing 
e) Calculation and interpret...
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Add to carta) Calculation of price elasticity of demand 
b) Interpretation of numerical values of price elasticity of demand 
c) The factors influencing price elasticity of demand 
d) The significance of price elasticity of demand to businesses in terms of implications for pricing 
e) Calculation and interpret...
a) The interaction of supply and demand 
b) The drawing and interpretation of supply and demand diagrams to show the causes and consequences of price changes
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Add to carta) The interaction of supply and demand 
b) The drawing and interpretation of supply and demand diagrams to show the causes and consequences of price changes
a) Factors leading to a change in supply: o changesinthecostsofproduction o introductionofnewtechnology 
o indirect taxes 
o government subsidies 
 o external shocks
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Add to carta) Factors leading to a change in supply: o changesinthecostsofproduction o introductionofnewtechnology 
o indirect taxes 
o government subsidies 
 o external shocks
a) Factors leading to a change in demand: 
o changesinthepricesofsubstitutesand complementary goods 
o changesinconsumerincomes 
o fashions, tastes and preferences 
 o advertising and branding 
o demographics 
o external shocks 
o seasonality
Preview 1 out of 4 pages
Add to carta) Factors leading to a change in demand: 
o changesinthepricesofsubstitutesand complementary goods 
o changesinconsumerincomes 
o fashions, tastes and preferences 
 o advertising and branding 
o demographics 
o external shocks 
o seasonality
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