You are welcome to ask questions on Economics. I am looking to explain economic principles / ideas/ recent developments in economics. Due to the volume of questions, I can no longer promise to answer. But, I will try if it meets below criteria.
I will post the answer on this blog, for everyone to benefit from. I never email individual answers
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- My speciality is economics for British A Level standard.
- I don’t answer university questions or maths calculations
- I am looking to explain economic principles / ideas/ recent developments in economics.
- 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.
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About The Author
Scarcity refers to the fact that the factors of production: natural resources, labor, capital, and entrepreneurial skill, are limited in their supply. There is a finite limit to the amount of natural resources available for production, such as land and fossil fuels. Labor is limited by population size, labor market skills and the willingness of the population to work. Capital is limited by the extent to which private individuals and firms, as well as governments, are willing to invest in capital, as well as the level of savings available for investment. The supply of entrepreneurial skill is limited by the size of the population, and the willingness of individuals to innovate and take risks.
For an inelastic good, if the firm wants to make more revenue, they should increase the price of the good because..
However, if I increase price of my inelastic good by 100% from £5 to £10 and quantity demanded falls by 80% from 100 to 20, revenue doesn’t rise… it falls… but my product is still an inelastic good because PED = -0.8…
Its about microeconomics questions. There are questions and answers(TRUE OR FALSE). I want to know explanation how the answers come out. Thank you.
This is it;
Q. Pricing-to-market behavior is one reason for the J-curve effect.
A. False
Q. Multi-level distribution channels tend to make the depreciation of home currency more effective in improving trade balance.
A. False
Hi I would like to get some help on this question, if u can help me can u please send me the answer for this questions on my email, [email protected] i will be grateful if u could do that for me, the questions are bellow:
what type of market structures best describe domestic banking industry?.and give reasons for your answer.where might similar industry market structures exist in Australian economy?.outline the arguments for the answer.
Hi, I’m a last year student and I’m working at my thesis. I haven’t managed to collect all the data I need and I was wondering if you know where I can find data about capital injections in Europe. I’m doing an econometric analysis and I need data for every year from 2008 to 2012. Thanks!