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"Survey the prices of some fruits, vegetables and fish in a local market over a three-month period. Measure the price changes (create an index). Account for the variations in price of similar items"
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Introduction: "Survey the prices of some fruits, vegetables and fish in a local market over a three-month period. Measure the price changes (create an index). Account for the variations in price of similar items" In this piece of economics coursework, I've basically been asked to identify and explain the factors that cause the prices of goods to change over a three-month period. It's about measuring price changes, recording the expenditure and determining the causes of the price changes (if any). To do this, the price data of each and every product had to have been recorded over a three-month period. I did this in the Gadong Market, in which I visited five times over the allocated time period. As well as collecting the price, I also asked the seller of each item about why the prices had changed. Having compiled the results I'll have to create a price index to show all...
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