each questions must be 3-4 sentences.. 1 answer below »

each questions must be 3-4 sentences.. 1 answer below »

Let's discuss the tutorialUnderstanding and Applying Supply and Demand in ourLecture this week.1)What is the difference between a change in demand versus a change in quantity demanded?2)A change in supply versus a change in quantity supplied?3)Why is it so important to differentiate between these similar-sounding terms?
4)What are your thoughts about minimum wage legislation?5) What kind of a price-control policy is this? Who gains? Who loses? Are there alternatives to this legislation for achieving the same policy objectives?6)What role do demand and supply elasticities play in determining outcomes?
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