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JC Economics Education Centre
Registered with the Ministry of Education (MOE)
Economics Resources
Demand, Supply and Elasticity Concepts
- Explain price elasticity of demand, income elasticity of demand and cross-elasticity of demand.
- With reference to the market for housing in Singapore, discuss whether the demand for housing is price elastic or inelastic.
- Explain the possible reasons for the rapid oil price hike.
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Taxi fares in Singapore are going up at an additional 50 cents per ride. Account for the fare increase in the taxi market
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