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ECS1500 ASSIGNMENT 3 SEMESTER 1 QUESTIONS AND TRUSTED ANSWERS
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ECS1500 ASSIGNMENT 3 SEMESTER 1 QUESTIONS AND ANSWERS2023
, QUESTION 1
The increased demand for beauty products containing activated charcoal in South Africa is likely to
have a significant impact on the market for activated charcoal. The effect will depend on the current
supply and demand situation in the market.
If the supply of activated charcoal is limited, the increased demand from the beauty industry may
lead to an increase in the price of activated charcoal. This price increase could encourage more
producers to enter the market, leading to an increase in supply in the long run.
However, if the supply of activated charcoal is already high and there is excess production capacity,
the increased demand may not result in a significant price increase. In this scenario, producers may
focus more on the production of beauty products containing activated charcoal to meet the growing
demand.
Additionally, the increased demand for beauty products containing activated charcoal could also
lead to new innovations in the industry. Producers may develop new products or improve existing
ones to meet the changing needs of consumers. This could lead to an increase in competition among
producers, ultimately benefiting consumers by providing them with a wider range of high-quality
products at competitive prices.
The increased demand for beauty products containing activated charcoal in South Africa is likely to
have a positive impact on the market for activated charcoal by stimulating demand and encouraging
innovation.
Price
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