Question: QUESTION TWO 2.1 Question 2.1.1 to 2.1.3 are based on the schedule below relating to the demand and supply of mini chocolate bars: Column A

QUESTION TWO

2.1 Question 2.1.1 to 2.1.3 are based on the schedule below relating to the demand and supply of mini chocolate bars: Column A PRICE (IN RANDS AND CENTS) Column B QUANTITY Column C PRICE (IN RANDS AND CENTS) Column D QUANTITY R0.50 16 R0.50 0 R1.00 13 R1.00 1 R1.50 10 R1.50 4 R2.00 7 R2.00 7 R2.50 4 R2.50 10 R3.00 1 R3.00 13 2.1.1 State and motivate which columns represent:

2.1.1.1 The demand aspect

2.1.1.2 The supply aspect

2.1.2 List the equilibrium price and equilibrium quantity for mini chocolate bars according to the schedule. Include in your answer the meaning of the equilibrium price and equilibrium quantity. (5) 2.1.3 Assume that at the price of R1.00, the quantity of mini chocolate bars increases from 13 bars to 14 bars. Discuss one relevant factor that can cause this change.

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