Answer all of the questions below in 2-3 paragraphs each. Your final submission should be a minimum of two (2) double spaced typed pages.
Unless otherwise stated, you should answer in complete sentences, and be sure to use correct English, spelling, and grammar. Sources must be cited in APA format.
Your response should be a minimum of two (2) double-spaced pages; refer to the Length and Formatting instructions for additional details.
1.
What is the difference between a “change in demand” and a change in “quantity demanded.”
2.
What is the difference between a “change in supply” and a change in “quantity supplied.”
3.
Holding demand constant, what is the only thing that can cause a change in quantity demanded? What are the things that cause a change in demand?
4.
How do changes in income affect the demand for a good?
5.
How do substitute and complementary goods affect the demand for a good?
Length/Formatting Instructions
Length
2 typed pages – double spaced (minimum)
Font
12 point Calibri font
Program/File Type
Submit in Word
Attachments
Should be pasted into the Word document if possible.
Referencing system
APA referencing system is necessary in assignments, especially material copied from the Internet.
For examples of correct citations, visit the following links:
http://owl.english.purdue.edu/owl/resource/560/01/
