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- I am looking to explain economic principles / ideas/ recent developments in economics.
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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.
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Can you describe the current state of the U.S. economy as of January 2011 & describe the macro fiscal & monetary policy that should be implemented by the government & the Fed?
Hi, I would like to ask about 4 questions. That is
1.List five factors that will have impact on the hotel industry in Malaysia. For each of the factors, provide relevant examples to support your answer.
2. Based on the factors above, explain the impact on the demand for rooms if there is a change in these factors. Provide relevant diagrams to support your answer.
3. If government of your country decided to impose a minimum wages for employees in the hotel industry, explain the likely impact to the industry.(Hint: Use the concept of Minimum Pricing to explain)
4.Many hotels would put up a signage “ask for our special price” usually at the reception counter. Explain how can this help in creating revenue to the firm?
thanks
Hello,
I would like to know which strategies American SMEs undertake in order to stay on the flow of the globolizing economy.
Explain how the recession might affect the level of consumer spending in the UK.
Hi Teresa
I am in hurry, so I typed mistake value of second case. Correct line is this.
If price elasticity of demand is .5%, means if price increases by 10% then demand of product would decrease by 5%.
Thanks
Hi Teresa
In general we give price elasticity of demand in negative numbers like -.5 ,-.2 etc.
Ok , suppose a product has price elasticity of demand 3.43(I think u mean -3.43)
If price of product is increased at rate of 10% then its demand would decreased 34.3%.
If price elasticity of demand is .5%, means if price increases by 10% then demand of product would decrease by 10%.
Price elasticity of demand just describes change in demand due to the change in price of a product with assumption of other things remains same.
Regards,
Raj