1. Analyse the main determinants of demand, supply, and price, using graphs and relevant examples (other than the examples discussed in the Lectures). (60 marks)
2. How do prices deal with the problem of scarcity in market economies? Use also relevant Principles of Economics to analyse your answer. (40 marks)
Format: Essay-type, 3000 words. Work should be typed and submitted electronically via Turnitin.
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