QUESTION
(a) "There is always an inverse relationship between price and quantity demanded of a good." Discuss.
(b) Explain with appropriate diagram(s) the different factors that will cause a shift in the supply curve.
QUESTION
(a) Elaborate on the different types and causes of inflation.
(b) Explain the different types of unemployment that exist.
(c) Can high inflation rate and high unemployment occur at the same time? Justify your answer.