i. Use diagrams to describe in detail how a market determines the price of a product.
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Module: IY008 - Economics
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Report Task
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i. Use diagrams to describe in detail how a market determines the price of a product.
ii. Apply these theoretical principles by selecting an existing product to assess how and for what reasons the price of your
chosen product might change.
iii. Briefly speculate as to the most likely impact of future changes in the price of your chosen product – providing a
reasoned argument for your forecast.
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