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CAMERON HIGHLANDS The demand for flowers especially roses, is expected to triple in February

Question: CAMERON HIGHLANDS The demand for flowers especially roses, is expected to triple in February due to the Chinese New Year celebration on February 3 and Valentine’s Day on February 14. This is a welcome development for flower growers in Cameron Highlands who are geared up to meet the expected increase in demand, especially flowers for Valentine’s Day whichASAP answersShow transcribed image texta)Demand is a desire backed up by willingness to pay and ability to pay. The law of demand propound by Dr.Alfred Marshall states that “Other things being constant when price increases quantity demanded decre…View the full answerTranscribed image text: CAMERON HIGHLANDS The demand for flowers especially roses, is expected to triple in February due to the Chinese New Year celebration on February 3 and Valentine’s Day on February 14. This is a welcome development for flower growers in Cameron Highlands who are geared up to meet the expected increase in demand, especially flowers for Valentine’s Day which will pick up a better price. Tiew Hui Ree, a florist at the Kea Farm here said the price of roses had increased four-fold a head of Valentine’s Day. which local roses being sold at RM15 a dozen compared with the usual RM5. The price of a carnation had dciuble compared with recent years, Tiew, 43, added. Most of local roses are sold in Kuala Lumpur, Penang and Johar “The market has experienced a high demand for roses and other flowers since the beginning of this month,” she said, adding that the demand was expected to peak a week before Chinese New Year. Another florist Vaani Supiah, said she is looking forward to the double celebrations as many would just buy without bargaining for a lower price. She said sales last February were a bit dull because both Chinese New Year and Valentine’s Day fell on the same day. They are now gearing up to face a busy February not only with the expected increase in demand but also with the arrival of tourists to the highland resort due to the long weekend break for the Chinese New Year Bernama Source: The Star, 7 January 2021 Based on the above article, answer the following questions. a) Define demand and state the law of demand. (2 marks) b) Briefly explain how the market price of flowers is determined. (2 marks) c) With the aid of a diagram, show the effect of an increase in demand of flowers on its market price and quantity (3 marks) d) Explain three (3) factors that may influence the demand of flowers in February, (3 marks)

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