Question: Answer the following review questions? 1.What is the difference between law of demand and law of supply? Explain by giving an example 2.In your opinion,

Answer the following review questions?

1.What is the difference between law of demand and law of supply? Explain by giving an example

2.In your opinion, which law represents state of consumer more? Demand law or supply law? Give reason for your answer

3. Take example of Tim Horton's new menu addition-Granola Muffin. How if differentiates with law of demand and law of supply. What can a supplier can do to increase his demand and why consumer wants to change his demand for this good?

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