Select FOUR pairs of complementary goods and explain the relationship between the pairs in terms of changes in price and quantity.

economics

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Answer ALL questions.

 

Question 1

Select FOUR pairs of complementary goods and explain the relationship between the

pairs in terms of changes in price and quantity.

 

Question 2

Select FOUR pairs of substitute goods and explain the relationship between the pairs in

terms of changes in price and quantity.

 

Question 3

Determine whether the following items are demand elastic or demand inelastic. Explain

your answer by using the factors that determine elasticity.

(a) A McLaren 570s Coupe

(b) A laptop

(c) An N95 face mask

(d) A bowl of hokkien mee

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