Use official data (like ENIGH 2020) to determine how the demand of five basic commodities of your
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Question:
Use official data (like ENIGH 2020) to determine how the demand of five basic commodities of your choice varies according to the income of a household. , consider the following:
1. For what income are the demands of these commodities changing the most?
2. For what income are their variations the least?
3. What commodities (from the ones you chose) have been impacted the most by inflation in the last three years?
4. What is the rate of change of these products with respect to income?
5. In the light of your results above, to whom would you say that the impact of inflation is greater?
Related Book For
Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
Posted Date: