Economics) assignment has two parts and both two parts have to be explained in assignment
examine the impact of the following events on the mars bar market:
a)There is a worldwide shortage of sugar due to unfavorable weather conditions in the major growing regions.
b)The Manufacturer Workers Union successfully negotiate an across the board wage rise for workers based at all Mars Confectionery plants.
c)General economic conditions are favorable with average household incomes increasing by 5% in the past year.
d)Rowntree Headley, manufactures of Violet Crumbles, have undertaken an aggressive marketing campaign, dropping the price of the bar line by 10%.
e)Researches at Mars have developed an improved system for manufacturing the bar, which will increase output per hour by 20%.
Harrassment of people wearing natural fur coats by environmentalist anti-fur groups has caused fur coat prices and sales to tumble in recent years.In contrast, prices and sales of luxury woollen and angora coats have gone up. Can the theory of demand and supply explain these two phenomena?
explain with the aid of two diagrams -one for fur coat market and another for the woollen and angora coat market.
please use harvard referencing system and place references in the text as well