1. Ceteris paribus. Assume the price of pears, a substitute for apples, has increased by 50 percent. Use demand and supply analysis to graphically represent and explain the impact on price and quantity in the apple market.
2. The Asian Financial crisis, which started in July 1997, rapidly decreased the income of the people of Thailand. The fall in income caused an increase in the demand for instant noodles but a decrease in the demand for fresh meat. In economics, what type of good is "instant noodles" and "fresh meat"? Explain.