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Economics - Demand and Supply - Promo Exams

Economics - Demand and Supply - Promo Exams

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Published by: Michael Calderone Chee on Oct 01, 2011
Copyright:Attribution Non-commercial


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Hwa Chong InstitutionH1/H2 Economics 8819/9732C1 Promotional Examinations 2011
Prepared by Chee Yuan Jun 1
Name: ( ) CT Group:
Demand And Supply
The questions below are selected for your revision for Monday's Economics Promotional Examinations. You can either do a timed assignment (of 45 minutes) for each essay, or doessay outlines, or a combination of both. This is to get you explaining the following conceptsand questions in economic terms for Monday's paper. For P-cube students, you would realisethat the 2 Promos Questions from HCI are the same from the P-cube tutorial; not to worry,you can do them again, or try the other questions.
[N2008 Q1]Developments in modern technology, such as faster broadband internet connections,portable DVD players, iPods and MP3 players, have had major impacts on thedemand for and supply of recorded music and associated products.Asses how the markets involved might be affected by these developments. [25]HCI 2009 PromosIn 2007 the Singapore economy grew at 7.8%, goods and services tax went up from5% to 7%, and there were active campaigns on healthy living.
Assess the likely effects of the above changes on consumers’ expenditure on fast
food. [25]HCI 2010 PromosIn 2009, several luxury car makers offered lower prices for their existing range ofmodels. In addition, they introduced smaller engine capacity cars at affordable pricesand invested heavily on advertisements. As a result they did better in sales despitean on-going recession.Discuss the relevance of different elasticity concepts to luxury car makers aiming toincrease profits. [25]

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