Economics- Assessment

Assessment (Demand and supply) Answer the following 1. Distinguish amid a shift of the demand curve for a product and a movement along the products demand curve (10 marks) 2. With citation to two different determinants of demand, explain why the demand curve for bicycles faculty increase. Use a diagram to support your answer (10 marks) 3. Distinguish amid a shift of the supply curve for a product and a movement along the products supply curve (10 marks) 4.With seed to two different determinants of supply, explain why the supply of coffee beans might decrease. Use a diagram to support your answer (10 marks) Assessment advice * Answers play to resemble each other structurally. * Each should start with a scripted explanation in which the key economics terms ar defined. * This would normally be followed by a diagram to illustrate the theory, followed by a further explanation in which the diagram is explained in the context of the detail question. * Be sure to use arrows to show directions of change in the diagrams and mean to any changes in the variables.Assessment criteria (Each question carries 10 marks) Level Marks 0 The work does not reach a standard described by the descriptors below. 0 1 on that point is weeny understanding of the specific demands of the question. relevant economic terms are not defined. There is very little acquaintance of relevant economic theory. There are significant errors. 13 2 There is some understanding of the specific demands of the question. few relevant economic terms are defined. There is some knowledge of relevant economic theory. There are some errors. 6 3 There is understanding of the specific demands of the question. Relevant economic terms are defined. Relevant economic theory is explained and apply. Where appropriate, diagrams are included and applied. Where appropriate, examples are used. There are few errors. 78 4 There is perish understanding of the specific demands of the question. Relevant economic terms are distinctly defined. Relevant economic theory is clearly explained and applied. Where appropriate, diagrams are included and applied effectively. Where appropriate, examples are used effectively. There are no significant errors. 910