1. Identify how the following factors affecting demand impacts the given goods/services. (POSITIVE, NEGATIVE, NONE) Provide brief explanation. Convenience food Products purchased on the internetMobile phonesPay-per - view- television programmingBooksAirline travel within Us and UKPrice of goods and services Income Price of related goods Price expectations Taste No. of consumers Range of available goods 2. Identify how the following factors affecting supply impacts the given goods/services. (POSITIVE, NEGATIVE, NONE) Provide brief explanation. Price of good or service Cost of inputs Price of related goods TechnologyExpected price of the good in the futureNo. of sellersTaxSubsidiesAvailability of inputs Crude oil Hotel rooms Beef Fast food stalls Credit cards from financial institutions Laptop and computers

An inferior good is such a product or service whose usage decreases with increasing income. For…

Answered: 1. Identify how the following factors…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. Identify how the following factors affecting demand impacts the given goods/services. (POSITIVE, NEGATIVE, NONE) Provide brief explanation.

	Convenience food	Products purchased on the internet	Mobile phones	Pay-per - view- television programming	Books	Airline travel within Us and UK
Price of goods and services
Income
Price of related goods
Price expectations
Taste
No. of consumers
Range of available goods

2. Identify how the following factors affecting supply impacts the given goods/services. (POSITIVE, NEGATIVE, NONE) Provide brief explanation.

	Price of good or service	Cost of inputs	Price of related goods	Technology	Expected price of the good in the future	No. of sellers	Tax	Subsidies	Availability of inputs
Crude oil
Hotel rooms
Beef
Fast food stalls
Credit cards from financial institutions
Laptop and computers

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