Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Choose TWO types of stores (sectors) in the table below and analyze the change in price and quantity for each of the two types of

Choose TWO types of stores (sectors) in the table below and analyze the change in price and quantity for each of the two types of stores (sector) using the demand-supply analysis and possibly together with other theories.

image text in transcribed
The following table shows the annual percentage change in volume (which can be understood as quantity) and price of the sales of goods sold in certain types of stores in Hong Kong based on the retail sales survey conducted by the Hong Kong Census and Statistics Department. 2019 2020 Types of stores Percentage change Percentage change Percentage change Percentage change Cosmetics (sectors) in price 'om the in volume from the in price from the in volume 'om the previous year previous year previous year previous year Food +5.8% -8.7% +5.8% 47.5% Supermarkets +5.8% -5.6% +5.5% +5.6% Clothing and -l.6% -12.7% -5.6% -3'}'. 1% Footwear Consumer durables -1 .8% -10.4% -1.3% -8.9% Department Stores 415% - 12.6% +12% -23 .4% Jewellery +1.7% -23.7% +7.5% 67.2% Medicines and +15% - 14.5% +1.2% -50.6% Note: 1. Values of goods used together with provision of services are not included in the retail sales statistics. (For example, value of food in restaurant dining is not included in the food category above.) 2. Purchases by tourists at these stores are included in the statistics. Note that for some types of stores, a high proportion of sales are to tourists

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Climate Policy And Nonrenewable Resources The Green Paradox And Beyond

Authors: Karen Vollebergh, Rick Van Der Ploeg

1st Edition

0262319845, 9780262319843

More Books

Students also viewed these Economics questions

Question

Define productivity.

Answered: 1 week ago

Question

What is cultural tourism and why is it growing?

Answered: 1 week ago

Question

1. What does this mean for me?

Answered: 1 week ago