Podcast
Questions and Answers
What is the law of demand?
What is the law of demand?
- The quantity demanded for sugar has no relation to the price of sugar.
- The quantity demanded for sugar increases due to a decrease in the price of sugar.
- The quantity demanded for sugar decreases because of the raise in the price of sugar. (correct)
- The quantity demanded for sugar remains constant despite changes in the price of sugar.
What is the law of supply?
What is the law of supply?
- The quantity supplied for sugar has no relation to the price of sugar.
- The quantity supplied for sugar increases due to the raise in the price of sugar. (correct)
- The quantity supplied for sugar remains constant despite changes in the price of sugar.
- The quantity supplied for sugar decreases due to a decrease in the price of sugar.
What is price elasticity of demand?
What is price elasticity of demand?
- A measure of responsiveness showing that changes in price affect the quantity demanded only slightly.
- A measure of responsiveness showing that changes in price always cause the quantity demanded to decrease.
- A measure of responsiveness showing that changes in price have no effect on the quantity demanded.
- A measure of responsiveness showing that changes in price have a significant effect on the quantity demanded. (correct)
How does the law of supply relate to the price of sugar?
How does the law of supply relate to the price of sugar?
What does an upwards supply curve indicate?
What does an upwards supply curve indicate?
What is the purpose of the Malaysia government's sugar subsidy?
What is the purpose of the Malaysia government's sugar subsidy?
How does the distribution of sugar to wholesalers and retailers help resolve shortage issues?
How does the distribution of sugar to wholesalers and retailers help resolve shortage issues?
What is the purpose of implementing a price ceiling for sugar by the Malaysia Government?
What is the purpose of implementing a price ceiling for sugar by the Malaysia Government?
How does the strong barrier of entry for new sugar manufacturers affect the market?
How does the strong barrier of entry for new sugar manufacturers affect the market?
What is the goal of Malaysia's policy regarding sugar supply and distribution?
What is the goal of Malaysia's policy regarding sugar supply and distribution?
What role can the government play in encouraging local production of sugar?
What role can the government play in encouraging local production of sugar?
How can the government support farmers in enhancing agricultural techniques for sugar production?
How can the government support farmers in enhancing agricultural techniques for sugar production?
What is one of the measures the government can adopt to bolster domestic production capabilities?
What is one of the measures the government can adopt to bolster domestic production capabilities?
How can the government ensure a reliable outlet for farmers' produce?
How can the government ensure a reliable outlet for farmers' produce?
What is the main purpose of the government's initiatives to support local production of sugar?
What is the main purpose of the government's initiatives to support local production of sugar?
