You are welcome to ask any questions on Economics. Though you might also like to try google custom search (top right) to see if the topic has been covered before.
I am looking to explain economic principles / ideas/ recent developments in economics. I can’t promise to answer, but will try if it meets the criteria below.
- Please don’t ask me to do your coursework / assignment e.t.c. (I can usually tell if it is a homework question!)
- Please don’t ask any maths calculations.
- The question and answer will be published here where everyone can see it (including your teacher!)
- I aim to try and simplify economics; as a rough guide I would aim at an understanding similar to a good British A Level student.
- I am looking to explain economic principles / ideas/ recent developments in economics.
- I will answer as a new post, if you leave email address, I’ll usually send quick email. Check home page of blog for new post. With question and answers
Add comment at bottom of post.
What is one of the new financial regulation after the 2008 financial crisis? is the dodd frank act one of them?
Why do Developing countries tend to save money in Developed countries?
how do you respond to an assignment given on discussing about market structures in an economic class
An inferior good is an economic term that describes a good whose demand drops when people’s incomes rise. This occurs when a good has more costly substitutes that see an increase in demand as incomes and the economy improve.
Inferior goods—which are the opposite of normal goods—are anything a consumer would demand less of if they had a higher level of real income. They may also be associated with those who typically fall into a lower socio-economic class.
simply saying, inferior good is a low-quality and cheap good that are may be substitute for normal goods when income falls. For example, butter is a normal good, but margarine is the cheap substitute to normal good and that is why it is an inferior good.
are the concept of growth poles is associated with agglomeration
Discuss the impacts of a fall in the sterling exchange rate on the UK’s Balance of Payments accounts and UK economic growth (25)
If resources were abundant, would there be a need to study economics?