Two factors change review

The wage rate of construction workers rise, which of the following graph can represent the change in the residential property market?

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There is an increase in the price of petroleum, which of the following graph can represent the change in the mini-bus services?

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There is an increase in the home mortgage loan interest rate, which of the following graph can represent the change in the private property market?

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Match the following cause and result.

• P rises, Q rises­

• Supply rises

• P drops, Q rises­

• Demand drops

• P drops, Q drops

• Demand rises

• P rises, Q drops­

• Supply drops

Petrol cars and petrol are ​ (a)   , when the price of petrol cars increases, the ​ (b)   for/of petrol will ​ (c)   .

• Complements
• Substitutes
• Competition supply
• Joint supply
• demand
• supply
• decreases
• increases

Organize these options into the right categories

Groups:

(a) Factors affecting demand

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(b) Factors affecting supply

• Consumers' prefecences towards the goods

• Seller's expectations of future prices

• Cost of production

• Festivals

• State of technology

• Change in income

• Number of producers

• Buyers' expectations of future prices