You are welcome to ask questions on Economics.
I will post the answer on this blog, for everyone to benefit from.
I shall try to answer the economics question and / or point to other resources but please bear in mind.
- The replies will be guidance and not for duplication. Your essays should always be your own work.
- My speciality is economics for British A Level standard. My university economics is rusty in parts, because generally I don’t use it in teaching A level economics.
- I can’t guarantee to always give answers it also depends on my time schedule.
- The aim is not to do people’s homework for them, but, help in the understanding of economic concepts.
- The answers will not necessarily be complete. I know several of my essays on this site could be improved.
- Please Write the Questions clearly and with proper spelling. Some questions I have not answered because they were not clear what was meant.
- I will answer as a new post. Check home page of blog for new post. With question and answers
I studied PPE at Lady Margaret Hall college, Oxford University, and currently work as an Economics A Level teacher. I have also examined several different economic units for Edexcel AS and A2.
If you find the information useful, you are welcome to buy me a coffee 🙂
1. In a market economy, the market mechanism can achieve all the following except
A. Signaling changes in consumer tastes.
B. Causing supply to respond to changes in demand.
C. Eliminating excess supply and demand.
D. Ensuring a fair distribution of all types of goods.
2.All other things being equal, if strawberries and cream are complementary goods, a fall in the price of strawberries will
A. Shift the demand curve for strawberries to the right.
B. Causes movements along the demand curve for cream.
C. Shifts the demand curve for cream to the right.
3. If the price elasticity of demand for butter is -2, a 1% decrease in the price of butter will
A. Reduce the quantity demanded by half.
B. Increases the quantity demanded by 2%.
C. Increase the quantity demanded by 0.5%.
D. Double the quantity demanded.
i want the answers for those multiple choice questions and i will be thankful to you if u tell me y those answers are correct……. bi… Tc…..:-)
hey y could not find answers for the questions which i asked before… from where i can find the questions answers?????
1. The Washington Post featured an article about aging baby boomers’ changing preferences regarding work and leisure. Youthful ambition for money and power is giving way to a mature desire for “quality of life”.
“There’s more of an interest in having a balance between work and life,” said Linda Fisher, research director at the AARP. “Part of that is because there are increasing numbers of boomers who have not only children to take care of, but who also have issues with aging parents who need care….Ten years ago, I wanted money, and I wanted the ability to sort of make a name for myself. Personal recognition was incredibly important to me,” she recalls. “Now my goal isn’t money as much, and personal recognition isn’t as important.” (Singhania, Lisa, “Boomers Weigh Work Tradeoffs; Some Focus on Flex Time and Values; Others Seek Security.” The Washington Post December 29, 2002: A23.)
a. Assume the indifference curve to the right represents the preferences of the worker when he or she was young. Draw a new indifference curve in the diagram to illustrate how the worker’s preferences between work and leisure change once he or she is old.
b. Consider the following job options: The first is a low-wage job paying $10 per hour. This low-wage job provides flexibility in that the worker can choose the number of hours worked per week. The second is a high wage job, paying $15 per hour. Accepting the high-wage job, however, means a commitment to at least 40 hours of work per week. So it is not possible to accept the high-wage job and then work 20 hours a week (and thereby enjoy 148 hours of leisure). Draw and label these two budget lines on a graph with leisure (hours per week) on the x-axis and income (dollars per week) on the y-axis.
c. By drawing a set of indifference curve on the figure, show that a person with a sufficiently strong liking for leisure will choose to work at the low-wage job rather than the high-wage job.
why does a firm prefer to remain small??
how to solved unemployment by tools of monetary policy
Explain why the following example is not a perfectly competitive industry and be sure to justify your answer: Even though one firm produces a large portion of the industry’s total output, there are many firms in the industry, and their products are indistinguishable. Firms can easily exit and enter the industry.
Assuming that corporate executives are to blame for the current financial crisis, what would be some of the reasons why they are to blame?
My professor asked me to write a thesis regarding the accession of Bulgaria into the EMU.
The thesis has to be based on the interplay/conflicts of Maastricht criteria vs. Optimum Currency Areas (OCA) theory. The thesis also has to incorporate regressions based on secondary data.
I am lost, even though I looked at the theories again. Please help me formulate a research question!
Using the simple Keynesian macromodel to assess the implications for equilibrium GDP and the level of savings of an increase in the saving function
What are the advantages and disadvantages of leaving pension provision to the private sector? Could you please explain with the help of economic thoery?
Suppose the government places a sales tax on firms in a monopolistically competitive industry. Explain what happens to the equilibrium price and the number of firms in the industry.
Assume that Product X is produced in a perfectly competitive industry and that product X yields costs to individuals who are neither consumers nor producers of Product X.
a) Using one correctly labeled graph, show the industry output and price under each other following conditions.
i) The industry ignores the externality.
ii) The industry produces the socially optimum level
of output.
Assume that the market is producing at the level of output you identified in part (i)
b) Identify one policy the government might use to achieve the level of output you identified in part (ii)
HELP!!!!
Mr JOHN
i just wanna know how this liquidity crunch can effect economy of any developing country like pakistan as its tight monetary policy here(NOT LIKE ALL OVER THE WORLD) but inflation is also in double digit around 12%.how to deal with that n how can it become advantageous or disadvantageous for pakistan.
thanx a lot
Hi, I hope you can help me with this question.I was just wondering would tea and milk be complements or substitutes? Because it seems to me their not really either but I have to draw demand and supply graphs to demonstrate. Please help and thanks.
So why were so many drug addicts and felons pushing subprime mortgages and why did the Florida justice system refuse to deal with this problem?This was also occurring in my homestate.This is not just about greed this is deliberate.The Miami herald did an expose on the situation.
The media is just lying about how bad this is.
I discovered a network of people laundering money through the court system and the media wanted nothing to do with it but the FBI told me to be careful if I continue investigating.They claim not to have jurisdiction or the knowledge of the criteria they use for investigating laundering.Hmmmm they did find it within their scope to investigate nude online pictures circulated of a celebrity. WOW what skewed priorities!