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  3. mike whilst walking along collins street came across a shop...

Question: mike whilst walking along collins street came across a shop...

Question details

Mike, whilst walking along Collins Street came across a shop selling the “JOYRIDE” technology based NIKE running shoes considered superior by the world’s best athletics.  Although Mike already owns four pairs of NIKE runners, he decided to buy the new runners.

Feeling please with himself Mike went to the pub for a beer.  It was “Happy hour” at the Pub and the beers were 30 percent cheaper.  Mike drank three beers rather than his usual two beers.

  1. Use demand and supply graphs illustrate and explain, which paragraph relates to the concepts below.
  1. Change in quantity demanded”     1.5 Marks
  2. Change in demand”       1.5 Marks
  1. Reflect on an occasion where the concepts in question 3a applied to you      1 Mark
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