Ask an Economic Question

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.


2,229 thoughts on “Ask an Economic Question”

  1. Why it is argued that now a day’s non tariff are more prominent barriers to international trade as opposed to tariff once?

  2. How does transitioning from a primary sector focused country to a secondary sector focused country affect a country’s economy? Also, is it a good thing or a bad thing?

  3. Suppose three goods are produced in an economy by three producers:
    Goods Producer
    Good2 Producer2
    Good3 Producer3
    If Producer1 likes only Good2, Producer2 likes only Good3 and Producer3 likes only Good1. Do you think trade between these three producers can take place in a barter economy? Explain your answer. How many prices producers have to remember in case of these three goods. Elaborate how money can resolve problems of barter economy and can benefit these three producers?

  4. pleas i want to know some of the circumstances that can lead business relationship become less profitable for procurement organization and suppliers

  5. I have been in the market for a new refrigerator after my 5 year old refrigerator has died. I am finding that everywhere on the internet they are saying that no refrigerator and other appliances will last between 7-10 years. With most not even that long because of mechanical failures that are to expensive to repair after 5 years. It is cheaper to buy a new appliance.
    This appears to be partially because of new technology and the demand of EPA standards for even more energy efficiency requirements. EPA uses this statement the even though higher energy efficient appliances are more expensive that is the only consequence and with years of use this expense will be recuperated with lower energy bills.
    Buy my calculations appliances use to last 20 years now lets say 7. At today’s prices that is a 20 year increase in cost to the consumer of $8400. Not including the pollution it costs to manufacture 3 times as many appliances, the pollution to recycle twice as many units in addition to the amount that ends up in landfills.
    We are a county of high technology, surely we can learn to make products to last. Longevity of products should be something that should be demanded as much as, if not more important, energy efficiency.
    There are many ways to produce and reduce pollution.
    Does the energy efficiency gain outweigh the energy usage needed to produce 2 to 3 times the quantity of manufactured appliances?
    With our technology, shouldn’t we be able to make products that last longer in to addition to being energy efficient. Maybe we can control the pollution by just not producing so much STUFF? We need not just recycling efforts but stop making things that cannot be recycled.
    I am 66 years old and I believe we need to quit being the disposable society.

  6. what are the main disadvantage of economy in which the income are paid in kind and transaction are carred out by barter trade

  7. Sir,
    My question is:—
    Why does value of Rupees in terms of an international currency change ? Does values of dollars also change ?

  8. On the basis of rather obvious assumption that more goods and services are preffered to less we may consider an increase in real national income as a necessary condition for an increase in economic welfare but it is not by itself a sufficient condition plz explain. thanx

  9. Please , example of commodities that can be required to serve two or more purposes and what type of demand is this


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