Year 9 - Economics - 5-3-16

Thai Sikh International School

E-Learning Programme – Online Assignment –dd/mm/yyyy

Name :                                                                                                                        Subject : 

Year  :                                                                                                            ScheduleNo. :                        

Year-9-Eco-Assignment-3

1.In 2007 shortages of lorry drivers in the US led some US companies to recruit truckers from India.The companies attracted the drivers by offering them higher wages than they could earn at home. In fact the wages were twelve times those paid in India

a.What market incentives is touched on in the passage?

b.Explain using a diagram what is likely to have happened to the wages paid to lorry drivers in India in 2007.

2.The price of onions tripled in India in 2006. Traders blamed the hike in price on a poor crop after unusually light monsoon rains. In the same year in India the price of tomatoes rose largely due to higher demand caused by an increase in urban incomes.

a.Draw a diagram in each case to show why the price of onions and the price of tomatoes rose in India in 2006.

b.Explain how in each case the markets responded to changing circumstances.