Year 11 - Economics - 26.9.14

Thai Sikh International School

E-Learning Programme – Online Assignment –   26-09-2014

Name :                                                                                                          Subject :  Economics

Year   :  11 A/B                                                                                            Schedule No. : 2                                

   1.      Explain how resources are allocated  in a market economy?

   2.      What is the difference between want and demand?

   3.      What is price elasticity of demand? Write the formula for calculating the same.

   4.      What are the causes of changes in supply?