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ECS1501-25-Y
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Which of the following would cause the demand curve to shift from Demand C to Demand A in the market for blistering blue bottles?
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A business increases wages for its workers. Based on the simple circular flow model, what is the most likely short-term effect on the economy?
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If the government imposes higher taxes on businesses, how would this affect the goods and factor markets?
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The three major flows in the economy are total production, total income and total spending.
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This question is based on the following diagram.
At a price of R15
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If the supply of a product decreases, then we would expect the equilibrium price
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Equilibrium is often observed in our daily lives.
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This question is based on the following diagram. 
Which of the following would cause the supply curve to shift from Supply B to Supply A in the market for tea?
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An increase in the price of any of the factors of production will result in an upward (or leftward) shift of the supply curve.
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In their supply decisions, producers take account of the prices of all the alternative products which they can produce.
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