Outcome : Explain how demand and supply interact to determine prices of goods and services and the quantities exchanged.

There are some products given in below.

1.Sony Television

2.Samsung Mobile phone

3.Dove Soap

4.India Gate Basmati Rice

Choose any two products from the list and answer the following.

1.List any two determinants of demand for the chosen products (2 Marks)

2.List any two determinants of supply for the chosen products. (2 Marks)

3.Explain the relationship between the determinant and quantity demanded of these two products. (2 Marks)

4.Explain the relationship between the determinant and quantity supplied of these two products. (2 Marks)

5.If there is any price ceiling and price floor imposition on these two products, what would be the effect? (2 Marks)