10 Commerce Test Revision

9. Use separate (fully labelled) diagrams to show the effect that each of the following
would have on the market for ice creams: 1. List and explain 5 factors that impact on demand.
a. An advertising campaign
b. Ice cream is found to cause cancer
c. A strike in all major ice cream production factories
d. A decrease in the price
;::fix
e. An increase in income tax
--- --.
I

p
ITfri/ P, -
2. Using two diagrams, illustrate the difference between an expansion of demand and an increase in
I!' . -
demand. c4 ref c:t'l,r,xc_o (

V
!) p
t (3_l. Q {,, o---+.

;:Cu_ /)'/
s, D
r, Q
f__
f,
,, }!8 3. List and explain 4 factors that impact on Supply.

I ?civJ /'/!a.A
0,

4. What does it mean if a market is in equilibrium?

Q..,_