Saturday, December 03, 2011

Unit 1: The whisky market

....is growing according to the BBC

http://www.bbc.co.uk/news/uk-scotland-16007905

a) Which of the factors that effect demand are causing the increasing demand for whisky?
b) Is supply elastic or inelastic? Explain your answer
c) Given your answers to a) and b) draw a S&D diagram to show the effect on the whisky market if demand continues to grow

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