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ECS1501 assignemnet 5 2024 (i) Which of the presenters best describes the market condition that Giant Bicycles faces and explain why you agree with him or her? Suppose beer and peanuts are complements. In anticipation of warm weather conditions, Injabul$2.95
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ECS1501 assignemnet 5 2024 (i) Which of the presenters best describes the market condition that Giant Bicycles faces and explain why you agree with him or her? Suppose beer and peanuts are complements. In anticipation of warm weather conditions, Injabul
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Course
Economics IA (ECS1501)
Institution
University Of South Africa (Unisa)
Book
Economics for South African Students
ECS1501 assignemnet 5 2024
(i) Which of the presenters best describes the market condition that Giant Bicycles faces and explain why you agree with him or her?
Suppose beer and peanuts are complements. In anticipation of warm weather conditions, Injabulo Breweries, the brewers of Number One b...
Ecs1500 Assignment 7 Semester 2 2024 Due date 30 September 2024 Time 09:00 PM ( current questions with answers) LAST chance to pass module
ECS1501 ASSESSMENT 9 2024 PERSONAL BMZ A perfectly competitive market is described as a market with a few rms producing differentiated goods. a large number of rms that each individually sets the...
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Economics IA (ECS1501)
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BMZ ACADEMY
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BMZ ACADEMY 061 262 1185/068 053 8213Page 1 of 6
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, BMZ ACADEMY
Question 1 (12 marks)
Maximum word count: 100 words
(i) Which of the presenters best describes the market condition that Giant
Bicycles faces and explain why you agree with him or her?
Basically all of them are saying same thing, and they both describe what Giant
cycles is going through. When there is shortage of demand there is reciprocally
excessive supply at the ongoing price. It however depends on what is being held
constant.
(ii) Draw a diagram of the bicycle market that illustrates the market conditions
discussed in the podcast.
To illustrate the situation, two graphs can be used. One holding supply constant and
demand used decrease used to explain the situation. Alternatively, demand can be
held constant and supply increasing.
Option 1: Decrease in demand Option 2: Excess supply
(iii) Explain the adjustment process to the new equilibrium position in the bicycle
market.
BMZ ACADEMY 061 262 1185/068 053 8213Page 2 of 6
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