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(a)Critically analyse and explain the following statement.Goodsand services are scarce because resources are scarce.( 5 marks) (b) During a five year period, the ticket sales

(a)Critically analyse and explain the following statement."Goodsand services are scarce because resources are scarce".( 5 marks)

(b) During a five year period, the ticket sales of a city's professional football teamhave increased by 30 percent at the same timethat average ticket prices have risenby 50 percent. Do these changes imply an upward sloping demand curve? Explain.( 5 marks)

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