149. An Examination paper - Economics 1A

* With the aid of clearly labeled diagrams, explain the difference between a change in the quantity demanded and a change in demand. * Use a fully labeled diagram of the market demand curve and the market supply curve to illustrate each of the situations below. For each case show clearly on the diagram the original market clearing price and quantity (equilibrium) and the shift in the relevant curve. Use arrows on the diagram to indicate the direction of any change in equilibrium price and quantity. a) In the market for Smart LED TV sets, what happens when the cost of a digital colour generator (an input in the manufacturing process increases, ceteris paribus?

b) In the market for Samsung tablets, what will happen if the price of Apple iPads rise considerably, ceteris paribus? SOME PREVIOUS MANCOSA EXAM PAPERS FOR ECONOMICS 1A is available HERE here are 1b & 1a papers https://sites.google.com/site/economicssa123/exam-papers---eco-1b