Q1. a. Distinguish, with the aid of diagrams, between a change in supply and a change in quantity supplied. b. Explain, with the aid of diagrams, how an outbreak of hostilities in the Middle East might be expected to impact the Australian markets for petrol and passenger cars with small engines c. Electric cars are expected to replace petrol cars in Australia in the future. What impact might this have on the market for battery powered bicycles? Justify your answer.Q2.&nbs … View More

| April 14, 2018

Q1.  a. Distinguish, with the aid of diagrams, between a change in supply and a change in quantity supplied.  b. Explain, with the aid of diagrams, how an outbreak of hostilities in the Middle East might be expected to impact the Australian markets for petrol and passenger cars with small  engines  c. Electric cars are expected to replace petrol cars in Australia in the future. What impact might this have on the market for battery powered bicycles? Justify your answer.Q2.&nbs … 

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