xoon only-----> dq 1 ECO 550

"Fundamental Economic Concepts" Please respond to the following:

• Answer the following discussions based on the Katrina’s Candies scenario:
  • From the scenario for Katrina’s Candies, examine the key factors affecting the demand for and the supply of a good in general and Katrina’s Candies specifically. Distinguish between a change in demand and a change in the quantity demanded (movement along the demand curve).
  • From the above, indicate the factors that are responsible for a shift in demand; and explain how the change is effected by these factors.
  • Indicate the factors that are responsible for a shift in supply; and explain how the change is affected by these factors.