Fundamentals of Economics

Question 1

You have completed your three years undergraduate Commerce Degree. You now contemplate undertaking an honours year? What economic tools would you consider in determining whether to commit to an honours year or not.
You may use diagrams to illustrate and support your arguments.
Word Limit: 250 words

Question 2

The law of demand illustrates the general relationship between price and consumption which states that “when the price of a good rises, the quantity demanded fall.”
Using supply and demand diagrams, explain the consequences of a rise in economics enrolments at Charles Darwin University relative to say, Western
Australia University.
Word Limit: 250 words

Preparations

You may use other economics textbooks to supplement your answers.
Please ensure to reference all sourced materials including diagrams, quotes or an idea. Include a bibliography.
Indicate on each question the total number of words.

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