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For each of the products specified below, graph and explain how the following scenarios are likely to affect market demand. State your assumptions about the
For each of the products specified below, graph and explain how the following scenarios are likely to affect market demand. State your assumptions about the type of goods and relationships between these products.
- Jetstar Airline Tickets: Average income in Australia falls by 15%
- Samsung Phones: Due to supply chain issues, the price of iPhones increases
- Gym membership: The gym recently hired a new marketing manager to advertise on social media platforms
- Mattresses: Due to travel restrictions, there is a sharp fall in new migrants
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