Question: let me ask four questions : Define comparative statics analysis. How does it compare with sensitivity analysis or what-if analysis used in finance, accounting, and

let me ask four questions :

  1. Define comparative statics analysis. How does it compare with sensitivity analysis or what-if analysis used in finance, accounting, and statistics?
  2. Definedemand.Definesupply.In your answers, explain the difference betweendemandandquantity demandedand betweensupplyandquantity supplied.
  3. List the key non-price factors that influence demand and supply.
  4. In defining demand and supply, why do you think economists focus on price while holding constant other factors that might have an impact on the behavior of buyers and sellers?

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