1. Explain the concept of Supply and Demand.

Supply -

Demand -

2.Why is the concept of supply and demand not included in the four fundamental questions faced by all economic systems?

3.Define Cost-Benefit Analysis and how cost-benefit analysis is used to make rational decisions.

4.How does the CPI help calculate the inflation rate of a country?

5.What is happening to the GDP of a country if the economy is stagnating?

6.Define e-commerce -

7.Provide at least three ways that technology affects economics.

8.How does increased productivity lead to lower prices for consumers?