Select Page

Economics Tuition Case Study Question: Durian frenzy spreads to China

In the recent months, the price of durian in Singapore has increased. Generally, the durians are imported from Malaysian farmers. However, there has been a...

Economics Tuition: Using economic analysis, discuss the likely impact of the above events on the airline industry and its related markets

2010 marked a trying time for the airline business. The eruption of the Icelandic volcano caused cancellations of 95,000 flights over Europe. One week later,...

Economics Tuition: Discuss the different supply and demand factors and their likely importance in determining the reported changes in the prices of private residential properties in Singapore

The Urban Redevelopment Authority (URA) announced that prices of private residential properties in Singapore rose by 1.3% in the third quarter of 2011, but...

Theory of Demand and Supply

Understand how price and output are set

The most fundamental of economic concepts, demand and supply explains the derivation of price in a market. Prices of goods and services are representations of supply and demand. These concepts serve as the backbone of any market economy. Students are expected to have a firm understanding of these concepts as they will be required to build upon such understanding to relate to more difficult concepts at a later time.