Ask Economics Question

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.

  1. The replies will be guidance and not for duplication. Your essays should always be your own work.
  2. 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.
  3. I can’t guarantee to always give answers it also depends on my time schedule.
  4. The aim is not to do people’s homework for them, but, help in the understanding of economic concepts.
  5. The answers will not necessarily be complete. I know several of my essays on this site could be improved.
  6. Please Write the Questions clearly and with proper spelling. Some questions I have not answered because they were not clear what was meant.
  7. 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 🙂

578 thoughts on “Ask Economics Question”

  1. Hi… I have been digging into literature related to firms going abroad (entering foreign markets). By a simple spelling mistake i stumbled on two different theories. Internalizing theory (buckley and Casson, 1976) and internationalization.. What is the difference?

  2. Is outsourcing beneficial to the global economy? Why?

    Is outsourcing beneficial or detrimental to education? Why?

    Your answers are greatly appreciated! Thank you!

  3. Help solve the problem of Securities
    Owner of securities companies located in the country A, sends them over the years to his brother that lives in country B. changing the value of GDP, GNP, ND A country? Counted as income on securities of private enterprise?

  4. I’m having trouble, understanding the information provided to me in my coursework in order to try plot the appropriate short run cost and revenue curves to find the maximum profit, break even, output maximum and total revenue maximum. I just needed some guidance in how to do this with the information provided. I don’t know what currency it is or what type of output it is ie unit or boxes

    ‘the most efficient short run method to produce q output of olive oil is with full time workers L = 0.0189 x Q’

    the short run cost of a worker is w=25204.738
    rent of building =190 and capital costs are 62

    inverse demand curve are p=1905.12 – 26.46q

    Hope you can help

  5. hi, what happen if the question ask for cost-push and demand-pull inflation explain using diagram and what the cause for 8 mark.
    i draw diagram stating demand and supply instead of aggregating demand n supply but i answer the cause correctly will i get some marks instead of zero.

  6. There are two countries France and Germany. There are two goods cheese and cars. There is only one factor of production, labor. In France, in a year, a worker can produce 1 ton of cheese or .25 of a car. In Germany, in a year, a worker can produce 2 ton of cheese or 2 cars. There are 1 million workers in France and 1.5 million workers in Germany.
    a) Draw the production possibility frontier for France. Draw the production possibility frontier for Germany.
    b) Which country has an absolute advantage in cheese? Which country has an absolute advantage in cars? Explain why.
    c) Which country has a comparative advantage in cheese? Which country has a comparative advantage in cars?
    d) Find the autarky relative price of cheese (price of cheese divided by the price of cars) for France and for Germany.
    e) Draw the world relative supply of cheese.
    f) If France and Germany Trade, what will be the lower and upper bound of the relative price of cheese? What will France export? What will Germany export?

  7. the economic problems of our time shall best be answered by economic and political systems. justify and account for this statement ?

  8. How does economic consumer react to change in both price and income of normal and superior goods in the likes of substitutability of both exported and imported good using game theory


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