1.1 Explain the law of Demand, movement along the same demand curve (with the aid of diagram) and
changes in demand curve with its factors (with the aid of diagram). 30 marks
1.2 Explain the law of Supply, movement along the same supply curve (with the aid of diagram) and
changes in supply curve with its factors (with the aid of diagram). 30 marks
TASK 2 – 40% (1000 words)
Compare and contrast emerging theories and models in 21st century contemporary economics with those
of the 20th century, and relate both of these to modern business practices. 30 marks