(a) Define demand'.
(b) Explain two likely causes of an increase in demand for bicyle
(0) Analyse why the demand for a product may be more price
another country.
(d) Discuss whether or not a government should impose indire
inelastic demand.
Droughts in the Pacific Coast region of the US and regulations,
of salmon that can be caught in the wild, have reduced the s
were imposed to avoid market failure in the salmon market.
AMAH
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demand means the want for a commodity; when we are ready to spend money on commodity
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Answer:
A) Demand: Demand is a quantity of a commodity which a consumer wishes to purchase at a given level of price and during a specified period of time.
B) i) social distance can be maintained from the society.
ii) cycling is a fitness option
C) A product may have higher perceived value in one country compared to another country.
A common brand may have a perceived value in one country and could be sold as premium brand there, enabling the company to charge a higher premium.
D) ..... from here I can't understand your questions.....
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