B2200C: Explain the law of demand and What are the factors of demand and How do they affect demand and the demand curve: Microeconomics Course Work, RP

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Factors affecting demand

Explain the law of demand. What are the factors of demand? How do they affect demand and the demand curve?

Apply this understanding to your analysis of petrol in Singapore. Examine possible factors that can affect its demand.
You should include appropriate research or examples, and make relevant assumptions.

Use clearly labelled graph(s) to show the explanation.

Factors affecting supply

Explain the law of supply? What are the factors of supply? How do they affect supply and the supply curve?
Apply this understanding to your analysis of petrol in Singapore. Examine possible factors that can affect its supply.
You should include appropriate research or examples, and make relevant assumptions.
Use clearly labelled graph(s) to show the explanation.

Combined analysis of the impact on the market

Explain how changes in Demand or Supply affect Equilibrium Quantity or Price.
Apply this understanding to your analysis of petrol in Singapore.
You should include appropriate research or examples, and make relevant assumptions.
Use clearly labelled graph(s) to show the explanation.

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