Economics Paper 32 discussion!!!!

[Prash008]

Guys lets discuss the economics paper 32 now!!!!

 

[Prash008]

What was the demand and supply diagram and the explanation for it!!!

 

[medevil]

demand would shift to the right and supply would extend
as population ages more elderly people . they require more care so demand increases and price also increases
u also have to mention the shift shown in ur diagrm in ur explanation

 

[Keeemoman]

Yup, medevil you are right

 

[Prash008]

yes i did the same thing......my friend was arguing with me so was just checking.
Thnx

 

[burndtjamb]

Do you mean quantity supplied would shift or the whole supply?

 

[Keeemoman]

There is no shift in the quantity supplied

 

[burndtjamb]

If demand increases there has to be.

 

[Keeemoman]

OK I agree but you dont have to shift to right or to left

 

[burndtjamb]

Good, I was just making sure of that in my previous post.

 

[Prash008]

What was the answer for to show y is it inversely related was trend mentioned in the question........

 

[Aahmsil]

Ello ?

The demand curve would shift to the right but the supply curve would stay the same right ? :Search:

 

[Aahmsil]

My answer

What was the answer for to show y is it inversely related was trend mentioned in the question........

It could be demand-pull inflation,
1) Consumers demand more
2) Producers unable to supply more unless they step up their production
3) Producers therefore likely to hire more labour in an effort to match increased consumer demand
4) Unemployment levels in the economy hence tend to decrease as a result

That's what I wrote :Search:

 

[rainbowtiara24]

@ Aahamsil...I think so too ...because they never said anything about supply increasing ....and if they haven't mentioned we can't assume it right ???

 

[Keeemoman]

Re: My answer

What was the answer for to show y is it inversely related was trend mentioned in the question........

It could be demand-pull inflation,
1) Consumers demand more
2) Producers unable to supply more unless they step up their production
3) Producers therefore likely to hire more labour in an effort to match increased consumer demand
4) Unemployment levels in the economy hence tend to decrease as a result

That's what I wrote :Search:

Excellent :Bravo: :Bravo: