Economics Q + A – 6

You are welcome to ask 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.

  1. Please don’t ask me to do your coursework / assignment e.t.c.
  2. Please don’t ask any maths calculations.
  3. The question and answer will be published here where everyone can see it (including your teacher).
  4. 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.
  5. I am looking to explain economic principles / ideas/ recent developments in economics.
  6. 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

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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448 thoughts on “Economics Q + A – 6

  1. Hi there Sir/Madam, we been facing a problem trying to solve this particular question, could you please take a look and help us?

    1. An economy produces only agricultural products (x) and manufactured goods (y). A quarter of
    the land in the country is arid and not suitable for agricultural products. Therefore, if half of the
    arid land is not used at all:
    (a) The economy could be productively efficient when the opportunity cost of x (agricultural
    products) is infinite;
    (b) The economy could be productively efficient when the opportunity cost of y (manufactured
    goods) is zero;
    (c) The economy could be productively inefficient with infinite opportunity cost for the
    production of x (agricultural products);
    (d) The economy could be productively inefficient with infinite opportunity cost for the
    production of y (manufactured goods).

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