Question 1:

Choose a product/service. Describe the elasticity of supply for your product/service .Identify one factor that influences the elasticity of supply for that product/service. Discuss the what happens to elasticity of supply if you vary that factor.

Question 2:

With footware sales of USD 28 Billion in the fiscal year ended 31 May 2021, Nike is stillNo. 1 in the sneakers market.Identify the market structure where Nike operates. Discuss at least 2 features of that market structure

Question 3:

Discuss Expansionary Fiscal Policy. Who is responsible for implementing fiscal policy? What may be adjusted to implement the policy? According to studies, fiscal policy can be slow to react to economic situations. Identify and discuss one reason why this may occur.