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.
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- 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.
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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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Hi
I hope you are doing well.
Could you please answer this question, i tried to understand it but i could’t
so i hope you can answer it for me in deep details, please.
You have been hired to replace the manager of a firm that used only two inputs, capital and labor, to produce output. The firm can hire as much labor as it wants at a wage of $5 per hour and can rent as much capital as it wants at a price of $50 per hour. After you look at the company books, you learn that the company has been using capital and labor in amounts that imply a marginal product of labor of 50 and a marginal product of capital of 100. Do you know why the firm hired you? Explain.
what if the government prints more money, but doesn’t allow prices to go higher?
even if a company runs out of supply, it doesn’t matter it will still be able to support the the company, and the consumers that want more will be force to try other brands as they are available. i hink this will create a balance in the economy. it also will motivate others to create new business.
If occupational immobility decreases, this would mean that structural unemployment decreases. So basically if structural unemployment decreases does that mean that the productive potential of the economy increases? My theory was that there would be more people joining the labour force because they are no longer occupationally immobile
yes. lower occupational immobility would help reduce structural unemployment.
can any one tell me that How ”Tax is a budgetary tool for economic growth” ?
Comparison between the UK and the USA the basic regulations and tools used by the institutions that play the role of Central Bank
Hi,
I’m trying to find some information in the internet, about if the UK is experiencing a demand-pull or cost-push inflation at the moment and why ?
1. Why does a price increase of a substitute decreases the current supply? Why don’t the producers abuse that and just charge a higher price for their product instead of changing to the other product?
2. Having in mind that the demand curve express the highest price that the consumers are willing to pay for the last good available for a given quantity, and the supply curve express the lowest amount of money that producers are willing to accept for the last peace available at a given quantity then:
-why don’t neither consumers nor producers abuse that by:
a) consumers buying exactly at the supply curve (until equilibrium)?
b) producers sell exactly at the demand curve (until equilibrium)?
Having in mind that the both parties are driven by their self-interest, in the both cases described above they can realize either an enormous profit or to save a lot of money.
I have reviewed the pros and cons of globalization and there are positives and negatives, however, I’m still struggling to decide whether or not over its good overall. And these similar questions keep coming up.
Through the interdependency of almost all states, could that weaken state power?
Could globalization be the end of the age of states?
please sent me notes about economics basic terminology.
what is economics?
Economics can be rather confusing at times, what with the different schools of thoughts in economics and the different theories behind them. My question is, what are the main schools of thoughts(say, Keynesianism, Classical, Monetarism, Supply-side, Neoclassical, Austrian Economics etc.) in economics and their characteristics and relative effectiveness?
Whats the cause for the decline in house prices, during a recession ?
1. Price of goods are determined by how scare they are relative to consumers’ preferences. Explain by using a simple example in today living.
2. Aggregate Demeaned is downward sloping. Why does the explanation of the negative relationship between price and output demanded at aggregate level is different from that for single product at micro level.
3. why does a drastic increase in aggregate demand cause demand-pull inflation? why does a significant decline in aggregate demand cause recession? Explain these situations by using graphs under an assumption that there is no shift in aggregate supply curve.
When the government imposes tax on a product, it is said that the tax burden depends on price elasticity of demand and supply, regardless of whom the tax is levied on. Explain using the concept price elasticity of demand and price elasticity of supply.
According to Stephanie Kelton, Associate Professor of Economics, University of Missouri-Kansas City, the US Government, the FED, can issue the currency, is not revenue constrained, always has the ability to pay & can afford anything for sale in $US. This is seemingly echoed by both FED chairs, Greenspan & Bernanke:-
“Government cannot become insolvent with respect to obligations in its own currency. A fiat money system, like the ones we have today, can produce such claims without limit.” Alan Greenspan, Fed Reserve Chair, 1997
As Chair Bernanke explained in 60 minutes in 2009, (Pelley) Is that tax money that the FED is spending? (Bernanke) “It’s not tax money. We simply use the computer to mark up the account.”
Is all the above true of the UK’s Central Bank, the Bank of England?
How can we would out the profit maximising price and output for an imperfect market (monopoly)