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CHAPTER 2

The document outlines a series of questions related to demand and supply analysis in economics, focusing on definitions, laws, and factors affecting supply and demand. It includes tasks such as defining supply and demand, illustrating changes through diagrams, and discussing specific factors influencing the supply of crude oil and demand for natural gas vehicles. The content is structured for an academic assessment in an economics course.

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Nur Hidayah
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2 views3 pages

CHAPTER 2

The document outlines a series of questions related to demand and supply analysis in economics, focusing on definitions, laws, and factors affecting supply and demand. It includes tasks such as defining supply and demand, illustrating changes through diagrams, and discussing specific factors influencing the supply of crude oil and demand for natural gas vehicles. The content is structured for an academic assessment in an economics course.

Uploaded by

Nur Hidayah
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

ECO 415 - ECONOMICS Sept 2018 – Jan

2019

CHAPTER 2
DEMAND AND SUPPLY ANALYSIS

PART A:

Question 1:

a) Define supply and state the law of supply.


(3 marks)

b) Using a diagram, show how a decrease in price will lead to a decrease in quantity supplied.
(4 marks)

CHAPTER 2 Page 2
ECO 415 - ECONOMICS Sept 2018 – Jan
2019

Question 2:

a) Define supply. Explain the law of supply using a diagram.


(4 marks)

b) Suggest one (1) factor that could contribute to the increase in the crude oil supply.
(1 mark)

CHAPTER 2 Page 3
ECO 415 - ECONOMICS Sept 2018 – Jan
2019

PART B:

1. Explain four (4) factors which affect supply of computers in Malaysia.


(10 marks)

2. Define demand and the law of demand. Explain five (5) factors that cause an increase in the
demand for natural gas vehicles (NGV).
(12 marks)

3. Using appropriate diagrams, explain the differences between changes in quantity supplied and
changes in supply.
(10 marks)

4. With the help of appropriate diagrams, distinguish between a change in demand and a change in
quantity demanded.
(8 marks)

CHAPTER 2 Page 4

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