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Application of demand and supply
madhurima bagchion 7 April 2011
Transcript of Application of demand and supply
How to write an essay question
Application of demand and supply on a given essay question
Let's solve a puzzle..... How to write an essay.... How to plan an essay
Essay title Consider the topic and issues
Develop into paragraphs
Illustrate with examples
Sum up your own ideas. Point out any wider implications. Avoid a sudden or abrupt ending.
Always give an insightful comment.
Remember the 3Cs Command word
Marking Descriptors Level 1 Knowledge/ Recognise (Description)
Identify the key theory without explanation
Outline give a list of relevant factors
Level 2 Consolidate (Add some detail – application)
Explain what happens – descriptive
Clarify Give examples without explanation
Level 3 Extend to include analysis
Analyse Use relevant theory to aid in explanation
Apply Place explanation in context of question
LG Philips, the world’s second largest LCD television maker, is to invest US$2.9bn to increase production of LCD television sets. Samsung predicted that, as a result, prices could fall by as much as 20%.
(a)Explain the determinants of demand for LCD television sets. 
Group Work Get into your coloured groups
In your groups discuss the assigned part
You will be given a clue card to help you answer
Thereafter one from each group will present their answer
Exit Passport On a piece of paper, spend 3 minutes to write down your answer to this question:
Consider the following events: Scientists reveal that consumption of oranges decreases the risk of diabetes and, at the same time, farmers use a new fertiliser that makes orange trees more productive.
Illustrate what effect these changes have on equilibrium price and quantity of oranges. Essay question 1