Economics dictionary definition, economics defined, economics answers.#Economics #answers


economics

Economics answers

An example of economics is the study of the stock market.

economics

Economics answers

Origin of economics

from obsolete singular n. economic + -s (sense ); patterned on Classical Greek ta oikonomika, household management, title of treatise by Aristotle from neuter plural of oikonomikos, skilled in household management from oikonomia: see economy

economics

Economics answers

  1. used with a sing. verb The social science that deals with the production, distribution, and consumption of goods and services and with the theory and management of economies or economic systems.
  2. used with a sing. or pl. verb Economic matters, especially relevant financial considerations: Economics are slowly killing the family farm ( Christian Science Monitor )

economics

Economics answers

aphnology Rare . the science of wealth; plutology. autarky a national policy of economic self-sufficiency or independence. autarkist, n . autarkie, autarkical, adj . bilateralism the practice of promoting trade between two countries through agreements concerning quantity and price of commodities. Cf. multilateralism. bilateralistic, adj . boycottism the principles behind, and means of carrying out, a boycott. boycotter, n . cameralism the theories and adherence to the theories of the cameralists. cameralist, n . cameralistic. adj . cameralist a mercantilist economist of the seventeenth and eighteenth centuries who believed in the doctrine that a nation s wealth could be made greater by increasing its supply of money. cameralistic, adj . capitalism a system of economics under which ownership of and investment in the means of production and distribution depends chiefly upon corporations and private individuals. capitalist, n . capitalistic, adj . cartelism the practice of controlling production and prices by agreements between or among international companies. cartel, n . chrysology the study of the production of wealth, especially as attained from precious metals. Cobdenism the economic doctrines of Richard Cobden (1804-65), who believed in peace and the withdrawal from European competition for balance of power. Colbertism the mercantilist theories of Jean Colbert in the 17th century, especially his advocacy of high protective tariffs. commercialism 1. the principles, practice, and spirit of commerce. 2. an excessive emphasis on high profit, commercial success, or immediate results. 3. a commercial custom, practice, or expression. commercialist, n . commercialistic, adj . consumerism the principles and practices associated with the utilization of economic goods. disintermediation an economic phenomenon of the late 1970s and early 1980s in which investors, flnding that conventional savings and thrift methods did not pay sufficient interest to keep pace with inflation, transferred their funds to the money market and related savings and investment instruments, leading to a rapid growth in those resources and a loss of funds from institutions like savings banks. economese language and jargon typical of economists and the field of economics. econometrics mathematical methods used in the science of economics to prove and develop economic theories. economics the study of the production, use, and consumption of goods and services in society. economie, economical, adj . economist, n . economism a theory or doctrine that attaches principal importance to economic goals. economist, n . Fabianism a late 19th-century English movement that favored the gradual development of socialism by peaceful means. Fabian, n., adj . Fordism the theory of Henry Ford stating that production efficiency is dependent on successful assembly-line methods. industrialism a system of social and economic organization based upon highly mechanized industry. industrialist, n., adj . inflationism the quality of advocating economic inflation. inflationist, n . joint stockism the principle of contribution and division of capital or stock by a number of persons. Keynesianism the economic theories of John Maynard Keynes (1883-1946), English economist, and his advocates, especially his emphasis upon deficit spending by government to stimulate business investment. Keynesian, n., adj . laissez-faireism the economic doctrine that the government should intervene as little as possible in economic affairs. laissez-faireist, n., adj . macroeconomics the division of economics dealing with broad, general aspects of an economy, as the import-export balance of a nation as a whole. Cf. microeconomics. macroeconomist, n . macroeconomic, adj . Malthusianism the theories of Thomas Malthus (1766-1834), English economist, stating that population growth tends to increase faster than production and that food and necessities will be in short supply unless population growth is restricted or war, disease, and famine intervene. Malthusian, n., adj . Manchesterism the policies and principles of an English school of economists based in Manchester. Manchesterist, n . mercantilism a political and economic policy seeking to advance a state above others by accumulating large quantities of precious metals and by exporting in large quantity while importing in small. mercantilist, n . mercantilistic, adj . microeconomics the division of economics dealing with particular aspects of an economy, as the price-cost relationship of a business. Cf. macroeconomies. microeconomist, n . microeconomic, adj . monetarism 1. an economic theory maintaining that stability and growth in the economy are dependent on a steady growth rate in the supply of money. 2. the principle put forward by American economist Milton Friedman that control of the money supply and, thereby, of rate in the supply of credit serves to control inflation and recession while fostering prosperity. monetarist, n., adj . multilateralism the practice of promoting trade among several countries through agreements concerning quantity and price of commodities, as the Common Market, and, sometimes, restrictive tariffs on goods from outsiders. nationalization the act or process of the taking over of private industry by government. See also government. Neo-Malthusianism the belief that the use of contraceptives as a means of lowering the population will eliminate such adverse elements as vice and elevate the Standard of living. Neo-Malthusian, n., adj . Owenism the principles of social and labor reform along communistic lines developed by Robert Owen (1771-1858). Owenite, n . pastoralism the herding or tending of cattle as a primary economic activity or occupation. Also pasturage. pastoralist, n . pastoral, adj . plutology the branch of economics that studies wealth; theoretical economics. Also called plutonomy. privatization the act or process of transferring to private ownership industry operated by a government, of ten industry that has been nationalized. See also government. protectionism the theory or practice of a method of fostering or developing industry through restrictive tariffs on foreign imports. protectionist, n., adj . Reaganomics the economic theories and policies of the administration of President Ronald Reagan (1981- ), basically a policy of supply-side economics with emphasis on defense spending, encouragement of private and corporate development and investment, and reduction in government spending on social services. Ricardian a believer in the economic theories of David Ricardo, English economist, especially that rental income is an economic surplus. Ricardian, adj . Saint-Simonism the theory of the Comte de Saint-Simon (1760-1825), who proposed a socialism in which all property and production be state-controlled with distribution on the basis of an individual s job and ability. Saint-Simonist, n .

economics

Economics answers



Kelvin Hong, Top Economics Tutor in Sg, Economics Tuition, JC IB, economics answers.#Economics #answers


Kelvin Hong

Economics answers

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Economics answers

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  • Economics answers

What students say about The Economics Tutor

Economics answers

“Exceptional Tutor with Tips and Tricks to write more Rigorous and Extensive Economics Essays.”

Economics answers

“Wonderful teacher. No student is left behind. Uses many analogies to teach difficult concepts.”

Economics answers

“Exceptional Teacher! Economics Began To Make Sense! Detailed Explanations With Real World Applications.”

Who can deliver Top Quality Economics Tuition?

Economics answers

Qualifications Awards

1st Class Honours in Economics

2 PSC Scholarship Awards

Winner of Many Top Academic Awards :

  • Dean’s List every year
  • University of Singapore Economics Society Book Prize (for being the Top Student in Economics for the entire undergraduate examinations)
  • Paul Sherwood Memorial Book Prize (for being the Top Student in Economics in the 2nd Year)
  • NUS Silver Medalist (2nd Most Outstanding Academic Results in Entire Faculty of Arts and Social Sciences)
  • Raffles Institution Merit Book Prize
  • Represented the NUS emerged Finalist in an International EconomicsJournal (Essay) Competition (UAUJE) out of thousands of contestants worldwide

Received Offers from both NUS NTU to join their Economics Faculty

“His (Mr Hong’s) academic prowess earned the respect of both his peers and his teachers.” – Testimonial by Jamie Reeves, renowned economics teacher from RJC former Director of Humanities Programme in RI/RJC

Economics answers

Experiences

Almost 20 years Economics Tuition experience

Former member of the Singapore Government Administrative Service, possessing Economics Policy Experience

Successful Entrepreneur, possessing unique Micro-Economics experience

Former Chairman of National Economics Quiz Committee

Secretariat Subcomm Member, Economic Review Committee 2001

Trained Top Business Executives including in seminar organised by the Singapore Business Federation

1 of only 4 youths selected to represent Singapore in regional Young Leaders’ Initiative

Qualifications Awards

1st Class Honours in Economics

2 PSC Scholarship Awards

Winner of Many Top Academic Awards:

  • Dean’s List every year
  • University of Singapore Economics Society Book Prize (for being the Top Student in Economics for the entire undergraduate examinations)
  • Paul Sherwood Memorial Book Prize (for being the Top Student in Economics in the 2nd Year)
  • NUS Silver Medalist (2nd Most Outstanding Academic Results in Entire Faculty of Arts and Social Sciences)
  • Raffles Institution Merit Book Prize
  • Represented the NUS emerged Finalist in an International EconomicsJournal (Essay) Competition (UAUJE) out of thousands of contestants worldwide

Received Offers from both NUS NTU to join their Economics Faculty

“His (Mr Hong’s) academic prowess earned the respect of both his peers and his teachers.” – Testimonial by Jamie Reeves, renowned economics teacher from RJC former Director of Humanities Programme in RI/RJC

Experiences

Almost 20 years Economics Tuition experience

Former member of the Singapore Government Administrative Service, possessing Economics Policy Experience

Successful Entrepreneur, possessing unique Micro-Economics experience

Former Chairman of National Economics Quiz Committee

Secretariat Subcomm Member, Economic Review Committee 2001

Trained Top Business Executives including in seminar organised by the Singapore Business Federation

1 of only 4 youths selected to represent Singapore in regional Young Leaders’ Initiative



Economics Exam Questions, Economics Exam Answers, economics answers.#Economics #answers


Economics Wiki

Economics Exam Answers

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Below is a compiled list of economics exam answers and quiz answers. If you are going to use this economics exam answers resource, it would be appreciated if you would Share this page on Facebook, Tweet this page or Google + this page. These help increase the awareness of the resource and allow the page to continue to stay up.

1. Which of the following is most likely to be an implicit cost for Company X?

A. forgone rent from the building owned and used by Company X

B. rental payments on IBM equipment

C. payments for raw materials purchased from Company Y

D. transportation costs paid to a nearby trucking firm

2. To the economist, total cost includes:

A. explicit and implicit costs, including a normal profit.

C. implicit, but not explicit, costs.

D. explicit, but not implicit, costs.

3. Suppose that a business incurred implicit costs of $200,000 and explicit costs of $1 million in a specific year. If the firm sold 4,000 units of its output at $300 per unit, its accounting profits were:

A. $100,000 and its economic profits were zero.

B. $200,000 and its economic profits were zero.

C. $100,000 and its economic profits were $100,000.

D. zero and its economic loss was $200,000.

4. Which of the following is a short-run adjustment?

A. A local bakery hires two additional bakers.

B. Six new firms enter the plastics industry.

C. The number of farms in the United States declines by 5 percent.

D. BMW constructs a new assembly plant in South Carolina.

5. The short run is characterized by:

A. plenty of time for firms to either enter or leave the industry.

B. increasing, but not diminishing returns.

C. fixed plant capacity.

D. zero fixed costs.

6. The law of diminishing returns indicates that:

A. as extra units of a variable resource are added to a fixed resource, marginal product will decline beyond some point.

B. because of economies and diseconomies of scale a competitive firm s long-run average total cost curve will be U-shaped.

C. the demand for goods produced by purely competitive industries is downsloping.

D. beyond some point the extra utility derived from additional units of a product will yield the consumer smaller and smaller extra amounts of satisfaction.

Answer the question on the basis of the following output data for a firm. Assume that the amounts of all non-labor resources are fixed.

7. Refer to the above data. Diminishing marginal returns become evident with the addition of the:

B. fourth worker.

D. second worker.

8. Refer to the above data. The marginal product of the sixth worker is:

A. 180 units of output.

B. 30 units of output.

9. In the above diagram curves 1, 2, and 3 represent the:

A. average, marginal, and total product curves respectively.

B. marginal, average, and total product curves respectively.

C. total, average, and marginal product curves respectively.

D. total, marginal, and average product curves respectively.

10. Refer to the above diagram. At output level Q total variable cost is:

Answer the question on the basis of the following cost data:

11. Refer to the above data. The total variable cost of producing 5 units is:

12. Refer to the above data. The average total cost of producing 3 units of output is:

13. Refer to the above data. The marginal cost of producing the sixth unit of output is:

14. In the above figure, curves 1, 2, 3, and 4 represent the:

A. ATC, MC, AFC, and AVC curves respectively.

B. MC, AFC, AVC, and ATC curves respectively.

C. MC, ATC, AVC, and AFC curves respectively.

D. ATC, AVC, AFC, and MC curves respectively.

15. In the long run:

A. all costs are variable costs.

B. all costs are fixed costs.

C. variable costs equal fixed costs.

D. fixed costs are greater than variable costs.

16. In which of the following market structures is there clear-cut mutual interdependence with respect to price-output policies?

A. pure monopoly

C. monopolistic competition

D. pure competition

17. Which of the following industries most closely approximates pure competition?

B. farm implements

18. A purely competitive seller is:

A. both a price maker and a price taker.

B. neither a price maker nor a price taker.

19. The MR = MC rule applies:

A. to firms in all types of industries.

B. only when the firm is a price taker.

C. only to monopolies.

D. only to purely competitive firms.

20. Assume the XYZ Corporation is producing 20 units of output. It is selling this output in a purely competitive market at $10 per unit. Its total fixed costs are $100 and its average variable cost is $3 at 20 units of output. This corporation:

A. should close down in the short run.

B. is maximizing its profits.

C. is realizing a loss of $60.

D. is realizing an economic profit of $40.

Answer the question on the basis of the following data confronting a firm:

21. Refer to the above data. This firm is selling its output in a(n):

A. monopolistically competitive market.

B. monopolistic market.

C. purely competitive market.

D. oligopolistic market.

22. Refer to the above data. If the firm s minimum average variable cost is $10, the firm s profit-maximizing level of output would be:

23. Refer to the above diagram for a purely competitive producer. The lowest price at which the firm should produce (as opposed to shutting down) is:

24. Refer to the above diagram. To maximize profit or minimize losses this firm will produce:

Answer the question on the basis of the following cost data for a firm that is selling in a purely competitive market:

25. Refer to the above data. If the market price for the firm s product is $12, the competitive firm will produce:

A. 4 units at a loss of $109.

B. 4 units at an economic profit of $31.75.

C. 8 units at a loss of $48.80.

D. zero units at a loss of $100.

26. Refer to the above data. If the market price for the firm s product is $32, the competitive firm will produce:

A. 8 units at an economic profit of $16.

B. 6 units at an economic profit of $7.98.

C. 10 units at an economic profit of $4.

D. 7 units at an economic profit of $41.50.

27. Refer to the above diagram. At P2, this firm will:

A. produce 44 units and realize an economic profit.

B. produce 44 units and earn only a normal profit.

D. shut down in the short run.

28. Refer to the above diagram. At P1, this firm will produce:

A. 47 units and break even.

B. 47 units and realize an economic profit.



IB Economics (and, not only), economics answers.#Economics #answers


IB Economics (and, not only)

economics is a dirty job but someone’s got to do it

Tuesday, August 22, 2017

Where is the trade-off?

Economics answers

This inverse relationship was first detected by a New Zealand economist (first a crocodile hunter then an electrical engineer and later an economist at the LSE – see Wikipedia) when studying the UK annual unemployment rate and the annual percentage change in money wages: when the labor market was tight (so unemployment was low) then money wages would tend to rise. If prices were a mark-up on costs / wages, then if unemployment decreased, prices would tend to increase. This pattern was detected for many countries but if the trade-off was stable then policymakers could ‘choose’ the most desirable unemployment-inflation combination and with demand side policies try to achieve it. Some started talking even about ‘fine-tuning’ the economy which was anathema to Milton Friedman and the monetarists (this always sounds to me like a band. ). In any case, Friedman’s ingenuity came up with the ‘expectations-augmented Phillips curve’ where there is no trade-off in the long run (defined as when expected inflation and actual inflation are equal). In the long run there is only one rate of inflation compatible with non-accelerating inflation and that is the ‘equilibrium’ unemployment rate which (again, ingeniously) Friedman called the ‘natural rate of unemployment’.

To make a long story short, the US unemployment has been steadily decreasing for some time and for many has approached or even exceeded the NRU so many have been expecting increases in money wages as well as increases in the average price level i.e. inflation.

But. not the case! The question is what should the Fed do? Should it slowly tighten monetary policy to avoid a jump in inflation and thus a greater increase in interest rates? But if there is still no risk of inflation for whatever reason? Then growth would just slow down and people who could have found a job will remain unemployed. The Fed has increased interest rates a bit but unemployment was still deceasing while inflation was still below the (totally arbitrary – see this excellent article) 2% goal!

Which bring us to this New York Times editorial Why is the Fed so scared of inflation which is definitely worth reading.

Economics answersAs Fed officials try to make sense of how low unemployment, which should drive up wages and prices, persists side by side with low inflation, most simply assume that inflation will rise by next year as labor demand lifts wages and higher wages lead to rising prices. This belief has led to two interest rate increases so far this year, in effect tapping the brakes on growth to fight inflation, with another rate increase expected this year. A more plausible view is that persistently low inflation shows the economy is more fragile than policy makers want to admit, and needs to be helped, not handicapped. (the photo is from an FOMC meeting) A simple exposition of the basics of the Phillips Curve for the IB HL Economics candidate can be found at my Economics Study Guide here or here or here (Oxford University Press)



Economics, Economist – World News, Politics, Economics, Business & Finance, economics answers.#Economics #answers


Economics

  • Economics answers

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  • Economics answers

    Neolithic societies were far more egalitarian 11

  • Economics answers

    A new accounting rule for credit losses is about to kick in 5

    Without connectivity, nothing moves 0

    On globalisation, mussels, Russia, politics 3

  • Economics answers

    As it sinks in the West, the faith is finding new followers elsewhere 17

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    The devices have helped poor countries leapfrog much more than landline telephony 6

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    Both monetary-policy and fiscal-policy answers remain contentious 27

    A new study by the IMF finds no strong correlation between lower taxes and higher growth 5

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    America’s 31st president overcame extraordinary obstacles, but the Great Depression overwhelmed him 2

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    Time for fresh thinking about the changing economics of geography 153

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    What can be done to help them? 103

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    The process of withdrawing monetary stimulus is fraught with danger 3

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    Labour plans to use Margaret Thatcher’s methods to overturn the Thatcher revolution 19

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    That crucial Franco-German axis will matter even more 3

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    Opposites don’t attract 36

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    The Fed has announced it will shed assets, but not how many 49

  • Economics answers

    Jean-Baptiste Say explained that if you build it, they will come 18

    Latest updates

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    Erasmus November 24th, 12:48

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  • How to Get Good Grades in Economics (with Pictures), economics answers.#Economics #answers


    How to Get Good Grades in Economics

    To do well in economics, you must develop a deep understanding of economic theories, developments in the field, and applied math. Stay current by reading newspapers and magazines like the Financial Times and The Economist. To ace your classes, take good notes, form a study group, and ask for assistance when necessary.

    Steps Edit

    Part One of Four:

    Getting to Know Economics Edit

    Economics answers

    Economics answers

    Economics answers

    Part Two of Four:

    Being a Diligent Student in Class Edit

    Economics answers

    Economics answers

    Economics answers

    Economics answers

    Economics answers



    IB Economics (and, not only), economics answers.#Economics #answers


    IB Economics (and, not only)

    economics is a dirty job but someone’s got to do it

    Tuesday, August 22, 2017

    Where is the trade-off?

    Economics answers

    This inverse relationship was first detected by a New Zealand economist (first a crocodile hunter then an electrical engineer and later an economist at the LSE – see Wikipedia) when studying the UK annual unemployment rate and the annual percentage change in money wages: when the labor market was tight (so unemployment was low) then money wages would tend to rise. If prices were a mark-up on costs / wages, then if unemployment decreased, prices would tend to increase. This pattern was detected for many countries but if the trade-off was stable then policymakers could ‘choose’ the most desirable unemployment-inflation combination and with demand side policies try to achieve it. Some started talking even about ‘fine-tuning’ the economy which was anathema to Milton Friedman and the monetarists (this always sounds to me like a band. ). In any case, Friedman’s ingenuity came up with the ‘expectations-augmented Phillips curve’ where there is no trade-off in the long run (defined as when expected inflation and actual inflation are equal). In the long run there is only one rate of inflation compatible with non-accelerating inflation and that is the ‘equilibrium’ unemployment rate which (again, ingeniously) Friedman called the ‘natural rate of unemployment’.

    To make a long story short, the US unemployment has been steadily decreasing for some time and for many has approached or even exceeded the NRU so many have been expecting increases in money wages as well as increases in the average price level i.e. inflation.

    But. not the case! The question is what should the Fed do? Should it slowly tighten monetary policy to avoid a jump in inflation and thus a greater increase in interest rates? But if there is still no risk of inflation for whatever reason? Then growth would just slow down and people who could have found a job will remain unemployed. The Fed has increased interest rates a bit but unemployment was still deceasing while inflation was still below the (totally arbitrary – see this excellent article) 2% goal!

    Which bring us to this New York Times editorial Why is the Fed so scared of inflation which is definitely worth reading.

    Economics answersAs Fed officials try to make sense of how low unemployment, which should drive up wages and prices, persists side by side with low inflation, most simply assume that inflation will rise by next year as labor demand lifts wages and higher wages lead to rising prices. This belief has led to two interest rate increases so far this year, in effect tapping the brakes on growth to fight inflation, with another rate increase expected this year. A more plausible view is that persistently low inflation shows the economy is more fragile than policy makers want to admit, and needs to be helped, not handicapped. (the photo is from an FOMC meeting) A simple exposition of the basics of the Phillips Curve for the IB HL Economics candidate can be found at my Economics Study Guide here or here or here (Oxford University Press)



    Economics, Economist – World News, Politics, Economics, Business & Finance, economics answers.#Economics #answers


    Economics

    • Economics answers

    Douglas Irwin agrees that trade policy is important. But all manner of powers are wrongly laid at its door 0

    Neolithic societies were far more egalitarian 0

  • Economics answers

    Neolithic societies were far more egalitarian 11

  • Economics answers

    A new accounting rule for credit losses is about to kick in 5

    Without connectivity, nothing moves 0

    On globalisation, mussels, Russia, politics 3

  • Economics answers

    As it sinks in the West, the faith is finding new followers elsewhere 17

  • Economics answers

    The devices have helped poor countries leapfrog much more than landline telephony 6

    It is the corporate-bond market they should worry about 4

  • Economics answers

    But the gap is closing 18

  • Economics answers

    Both monetary-policy and fiscal-policy answers remain contentious 27

    A new study by the IMF finds no strong correlation between lower taxes and higher growth 5

  • Economics answers

    America’s 31st president overcame extraordinary obstacles, but the Great Depression overwhelmed him 2

  • Economics answers

    Time for fresh thinking about the changing economics of geography 153

  • Economics answers

    What can be done to help them? 103

  • Economics answers

    An IMF report does not really support Jeremy Corbyn s plans; it is more nuanced 42

  • Economics answers

    With ultra-loose monetary policy coming to an end, it is best to tread carefully 85

    The process of withdrawing monetary stimulus is fraught with danger 3

  • Economics answers

    Labour plans to use Margaret Thatcher’s methods to overturn the Thatcher revolution 19

  • Economics answers

    That crucial Franco-German axis will matter even more 3

  • Economics answers

    Opposites don’t attract 36

  • Economics answers

    The Fed has announced it will shed assets, but not how many 49

  • Economics answers

    Jean-Baptiste Say explained that if you build it, they will come 18

    Latest updates

    Economics answers

    Graphic detail November 24th, 18:00

    Economics answers

    Prospero November 24th, 17:05

    Economics answers

    Erasmus November 24th, 12:48

    Economics answers

    Science and technology November 24th, 10:29

    Economics answers

    The Economist explains November 24th, 6:54

    Economics answers

    Prospero November 23rd, 15:26

    Economics answers



  • How to Get Good Grades in Economics (with Pictures), economics answers.#Economics #answers


    How to Get Good Grades in Economics

    To do well in economics, you must develop a deep understanding of economic theories, developments in the field, and applied math. Stay current by reading newspapers and magazines like the Financial Times and The Economist. To ace your classes, take good notes, form a study group, and ask for assistance when necessary.

    Steps Edit

    Part One of Four:

    Getting to Know Economics Edit

    Economics answers

    Economics answers

    Economics answers

    Part Two of Four:

    Being a Diligent Student in Class Edit

    Economics answers

    Economics answers

    Economics answers

    Economics answers

    Economics answers



    Kelvin Hong, Top Economics Tutor in Sg, Economics Tuition, JC IB, economics answers.#Economics #answers


    Kelvin Hong

    Economics answers

    Economics answers

    Economics answers

    • Economics answers
    • Economics answers
    • Economics answers
    • Economics answers

    What students say about The Economics Tutor

    Economics answers

    “Exceptional Tutor with Tips and Tricks to write more Rigorous and Extensive Economics Essays.”

    Economics answers

    “Wonderful teacher. No student is left behind. Uses many analogies to teach difficult concepts.”

    Economics answers

    “Exceptional Teacher! Economics Began To Make Sense! Detailed Explanations With Real World Applications.”

    Who can deliver Top Quality Economics Tuition?

    Economics answers

    Qualifications Awards

    1st Class Honours in Economics

    2 PSC Scholarship Awards

    Winner of Many Top Academic Awards :

    • Dean’s List every year
    • University of Singapore Economics Society Book Prize (for being the Top Student in Economics for the entire undergraduate examinations)
    • Paul Sherwood Memorial Book Prize (for being the Top Student in Economics in the 2nd Year)
    • NUS Silver Medalist (2nd Most Outstanding Academic Results in Entire Faculty of Arts and Social Sciences)
    • Raffles Institution Merit Book Prize
    • Represented the NUS emerged Finalist in an International EconomicsJournal (Essay) Competition (UAUJE) out of thousands of contestants worldwide

    Received Offers from both NUS NTU to join their Economics Faculty

    “His (Mr Hong’s) academic prowess earned the respect of both his peers and his teachers.” – Testimonial by Jamie Reeves, renowned economics teacher from RJC former Director of Humanities Programme in RI/RJC

    Economics answers

    Experiences

    Almost 20 years Economics Tuition experience

    Former member of the Singapore Government Administrative Service, possessing Economics Policy Experience

    Successful Entrepreneur, possessing unique Micro-Economics experience

    Former Chairman of National Economics Quiz Committee

    Secretariat Subcomm Member, Economic Review Committee 2001

    Trained Top Business Executives including in seminar organised by the Singapore Business Federation

    1 of only 4 youths selected to represent Singapore in regional Young Leaders’ Initiative

    Qualifications Awards

    1st Class Honours in Economics

    2 PSC Scholarship Awards

    Winner of Many Top Academic Awards:

    • Dean’s List every year
    • University of Singapore Economics Society Book Prize (for being the Top Student in Economics for the entire undergraduate examinations)
    • Paul Sherwood Memorial Book Prize (for being the Top Student in Economics in the 2nd Year)
    • NUS Silver Medalist (2nd Most Outstanding Academic Results in Entire Faculty of Arts and Social Sciences)
    • Raffles Institution Merit Book Prize
    • Represented the NUS emerged Finalist in an International EconomicsJournal (Essay) Competition (UAUJE) out of thousands of contestants worldwide

    Received Offers from both NUS NTU to join their Economics Faculty

    “His (Mr Hong’s) academic prowess earned the respect of both his peers and his teachers.” – Testimonial by Jamie Reeves, renowned economics teacher from RJC former Director of Humanities Programme in RI/RJC

    Experiences

    Almost 20 years Economics Tuition experience

    Former member of the Singapore Government Administrative Service, possessing Economics Policy Experience

    Successful Entrepreneur, possessing unique Micro-Economics experience

    Former Chairman of National Economics Quiz Committee

    Secretariat Subcomm Member, Economic Review Committee 2001

    Trained Top Business Executives including in seminar organised by the Singapore Business Federation

    1 of only 4 youths selected to represent Singapore in regional Young Leaders’ Initiative



    Economics Exam Questions, Economics Exam Answers, economics answers.#Economics #answers


    Economics Wiki

    Economics Exam Answers

    Economics answers

    Microeconomics Exam Answers

    Macroeconomics Exam Answers

    Below is a compiled list of economics exam answers and quiz answers. If you are going to use this economics exam answers resource, it would be appreciated if you would Share this page on Facebook, Tweet this page or Google + this page. These help increase the awareness of the resource and allow the page to continue to stay up.

    1. Which of the following is most likely to be an implicit cost for Company X?

    A. forgone rent from the building owned and used by Company X

    B. rental payments on IBM equipment

    C. payments for raw materials purchased from Company Y

    D. transportation costs paid to a nearby trucking firm

    2. To the economist, total cost includes:

    A. explicit and implicit costs, including a normal profit.

    C. implicit, but not explicit, costs.

    D. explicit, but not implicit, costs.

    3. Suppose that a business incurred implicit costs of $200,000 and explicit costs of $1 million in a specific year. If the firm sold 4,000 units of its output at $300 per unit, its accounting profits were:

    A. $100,000 and its economic profits were zero.

    B. $200,000 and its economic profits were zero.

    C. $100,000 and its economic profits were $100,000.

    D. zero and its economic loss was $200,000.

    4. Which of the following is a short-run adjustment?

    A. A local bakery hires two additional bakers.

    B. Six new firms enter the plastics industry.

    C. The number of farms in the United States declines by 5 percent.

    D. BMW constructs a new assembly plant in South Carolina.

    5. The short run is characterized by:

    A. plenty of time for firms to either enter or leave the industry.

    B. increasing, but not diminishing returns.

    C. fixed plant capacity.

    D. zero fixed costs.

    6. The law of diminishing returns indicates that:

    A. as extra units of a variable resource are added to a fixed resource, marginal product will decline beyond some point.

    B. because of economies and diseconomies of scale a competitive firm s long-run average total cost curve will be U-shaped.

    C. the demand for goods produced by purely competitive industries is downsloping.

    D. beyond some point the extra utility derived from additional units of a product will yield the consumer smaller and smaller extra amounts of satisfaction.

    Answer the question on the basis of the following output data for a firm. Assume that the amounts of all non-labor resources are fixed.

    7. Refer to the above data. Diminishing marginal returns become evident with the addition of the:

    B. fourth worker.

    D. second worker.

    8. Refer to the above data. The marginal product of the sixth worker is:

    A. 180 units of output.

    B. 30 units of output.

    9. In the above diagram curves 1, 2, and 3 represent the:

    A. average, marginal, and total product curves respectively.

    B. marginal, average, and total product curves respectively.

    C. total, average, and marginal product curves respectively.

    D. total, marginal, and average product curves respectively.

    10. Refer to the above diagram. At output level Q total variable cost is:

    Answer the question on the basis of the following cost data:

    11. Refer to the above data. The total variable cost of producing 5 units is:

    12. Refer to the above data. The average total cost of producing 3 units of output is:

    13. Refer to the above data. The marginal cost of producing the sixth unit of output is:

    14. In the above figure, curves 1, 2, 3, and 4 represent the:

    A. ATC, MC, AFC, and AVC curves respectively.

    B. MC, AFC, AVC, and ATC curves respectively.

    C. MC, ATC, AVC, and AFC curves respectively.

    D. ATC, AVC, AFC, and MC curves respectively.

    15. In the long run:

    A. all costs are variable costs.

    B. all costs are fixed costs.

    C. variable costs equal fixed costs.

    D. fixed costs are greater than variable costs.

    16. In which of the following market structures is there clear-cut mutual interdependence with respect to price-output policies?

    A. pure monopoly

    C. monopolistic competition

    D. pure competition

    17. Which of the following industries most closely approximates pure competition?

    B. farm implements

    18. A purely competitive seller is:

    A. both a price maker and a price taker.

    B. neither a price maker nor a price taker.

    19. The MR = MC rule applies:

    A. to firms in all types of industries.

    B. only when the firm is a price taker.

    C. only to monopolies.

    D. only to purely competitive firms.

    20. Assume the XYZ Corporation is producing 20 units of output. It is selling this output in a purely competitive market at $10 per unit. Its total fixed costs are $100 and its average variable cost is $3 at 20 units of output. This corporation:

    A. should close down in the short run.

    B. is maximizing its profits.

    C. is realizing a loss of $60.

    D. is realizing an economic profit of $40.

    Answer the question on the basis of the following data confronting a firm:

    21. Refer to the above data. This firm is selling its output in a(n):

    A. monopolistically competitive market.

    B. monopolistic market.

    C. purely competitive market.

    D. oligopolistic market.

    22. Refer to the above data. If the firm s minimum average variable cost is $10, the firm s profit-maximizing level of output would be:

    23. Refer to the above diagram for a purely competitive producer. The lowest price at which the firm should produce (as opposed to shutting down) is:

    24. Refer to the above diagram. To maximize profit or minimize losses this firm will produce:

    Answer the question on the basis of the following cost data for a firm that is selling in a purely competitive market:

    25. Refer to the above data. If the market price for the firm s product is $12, the competitive firm will produce:

    A. 4 units at a loss of $109.

    B. 4 units at an economic profit of $31.75.

    C. 8 units at a loss of $48.80.

    D. zero units at a loss of $100.

    26. Refer to the above data. If the market price for the firm s product is $32, the competitive firm will produce:

    A. 8 units at an economic profit of $16.

    B. 6 units at an economic profit of $7.98.

    C. 10 units at an economic profit of $4.

    D. 7 units at an economic profit of $41.50.

    27. Refer to the above diagram. At P2, this firm will:

    A. produce 44 units and realize an economic profit.

    B. produce 44 units and earn only a normal profit.

    D. shut down in the short run.

    28. Refer to the above diagram. At P1, this firm will produce:

    A. 47 units and break even.

    B. 47 units and realize an economic profit.



    Economics dictionary definition, economics defined, economics answers.#Economics #answers


    economics

    Economics answers

    An example of economics is the study of the stock market.

    economics

    Economics answers

    Origin of economics

    from obsolete singular n. economic + -s (sense ); patterned on Classical Greek ta oikonomika, household management, title of treatise by Aristotle from neuter plural of oikonomikos, skilled in household management from oikonomia: see economy

    economics

    Economics answers

    1. used with a sing. verb The social science that deals with the production, distribution, and consumption of goods and services and with the theory and management of economies or economic systems.
    2. used with a sing. or pl. verb Economic matters, especially relevant financial considerations: Economics are slowly killing the family farm ( Christian Science Monitor )

    economics

    Economics answers

    aphnology Rare . the science of wealth; plutology. autarky a national policy of economic self-sufficiency or independence. autarkist, n . autarkie, autarkical, adj . bilateralism the practice of promoting trade between two countries through agreements concerning quantity and price of commodities. Cf. multilateralism. bilateralistic, adj . boycottism the principles behind, and means of carrying out, a boycott. boycotter, n . cameralism the theories and adherence to the theories of the cameralists. cameralist, n . cameralistic. adj . cameralist a mercantilist economist of the seventeenth and eighteenth centuries who believed in the doctrine that a nation s wealth could be made greater by increasing its supply of money. cameralistic, adj . capitalism a system of economics under which ownership of and investment in the means of production and distribution depends chiefly upon corporations and private individuals. capitalist, n . capitalistic, adj . cartelism the practice of controlling production and prices by agreements between or among international companies. cartel, n . chrysology the study of the production of wealth, especially as attained from precious metals. Cobdenism the economic doctrines of Richard Cobden (1804-65), who believed in peace and the withdrawal from European competition for balance of power. Colbertism the mercantilist theories of Jean Colbert in the 17th century, especially his advocacy of high protective tariffs. commercialism 1. the principles, practice, and spirit of commerce. 2. an excessive emphasis on high profit, commercial success, or immediate results. 3. a commercial custom, practice, or expression. commercialist, n . commercialistic, adj . consumerism the principles and practices associated with the utilization of economic goods. disintermediation an economic phenomenon of the late 1970s and early 1980s in which investors, flnding that conventional savings and thrift methods did not pay sufficient interest to keep pace with inflation, transferred their funds to the money market and related savings and investment instruments, leading to a rapid growth in those resources and a loss of funds from institutions like savings banks. economese language and jargon typical of economists and the field of economics. econometrics mathematical methods used in the science of economics to prove and develop economic theories. economics the study of the production, use, and consumption of goods and services in society. economie, economical, adj . economist, n . economism a theory or doctrine that attaches principal importance to economic goals. economist, n . Fabianism a late 19th-century English movement that favored the gradual development of socialism by peaceful means. Fabian, n., adj . Fordism the theory of Henry Ford stating that production efficiency is dependent on successful assembly-line methods. industrialism a system of social and economic organization based upon highly mechanized industry. industrialist, n., adj . inflationism the quality of advocating economic inflation. inflationist, n . joint stockism the principle of contribution and division of capital or stock by a number of persons. Keynesianism the economic theories of John Maynard Keynes (1883-1946), English economist, and his advocates, especially his emphasis upon deficit spending by government to stimulate business investment. Keynesian, n., adj . laissez-faireism the economic doctrine that the government should intervene as little as possible in economic affairs. laissez-faireist, n., adj . macroeconomics the division of economics dealing with broad, general aspects of an economy, as the import-export balance of a nation as a whole. Cf. microeconomics. macroeconomist, n . macroeconomic, adj . Malthusianism the theories of Thomas Malthus (1766-1834), English economist, stating that population growth tends to increase faster than production and that food and necessities will be in short supply unless population growth is restricted or war, disease, and famine intervene. Malthusian, n., adj . Manchesterism the policies and principles of an English school of economists based in Manchester. Manchesterist, n . mercantilism a political and economic policy seeking to advance a state above others by accumulating large quantities of precious metals and by exporting in large quantity while importing in small. mercantilist, n . mercantilistic, adj . microeconomics the division of economics dealing with particular aspects of an economy, as the price-cost relationship of a business. Cf. macroeconomies. microeconomist, n . microeconomic, adj . monetarism 1. an economic theory maintaining that stability and growth in the economy are dependent on a steady growth rate in the supply of money. 2. the principle put forward by American economist Milton Friedman that control of the money supply and, thereby, of rate in the supply of credit serves to control inflation and recession while fostering prosperity. monetarist, n., adj . multilateralism the practice of promoting trade among several countries through agreements concerning quantity and price of commodities, as the Common Market, and, sometimes, restrictive tariffs on goods from outsiders. nationalization the act or process of the taking over of private industry by government. See also government. Neo-Malthusianism the belief that the use of contraceptives as a means of lowering the population will eliminate such adverse elements as vice and elevate the Standard of living. Neo-Malthusian, n., adj . Owenism the principles of social and labor reform along communistic lines developed by Robert Owen (1771-1858). Owenite, n . pastoralism the herding or tending of cattle as a primary economic activity or occupation. Also pasturage. pastoralist, n . pastoral, adj . plutology the branch of economics that studies wealth; theoretical economics. Also called plutonomy. privatization the act or process of transferring to private ownership industry operated by a government, of ten industry that has been nationalized. See also government. protectionism the theory or practice of a method of fostering or developing industry through restrictive tariffs on foreign imports. protectionist, n., adj . Reaganomics the economic theories and policies of the administration of President Ronald Reagan (1981- ), basically a policy of supply-side economics with emphasis on defense spending, encouragement of private and corporate development and investment, and reduction in government spending on social services. Ricardian a believer in the economic theories of David Ricardo, English economist, especially that rental income is an economic surplus. Ricardian, adj . Saint-Simonism the theory of the Comte de Saint-Simon (1760-1825), who proposed a socialism in which all property and production be state-controlled with distribution on the basis of an individual s job and ability. Saint-Simonist, n .

    economics

    Economics answers



    Economics: Practice Questions with Answers for Papers 1 and 2 HL #the #impossible #quiz #2 #answers


    #economics answers

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    OSC Study Guides

    Our International Baccalaureate (IB) Economics HL and SL books provide you with a solid outline of every aspect in the Economics Syllabus. The emphasis is on subject knowledge, structure of knowledge and how to answer examination questions.

    The exam is a test of how you use economic theories and concepts to solve economic questions and problems. With plenty of diagrams and IBDP-type questions, these books help you to successfully tackle the questions to help maximise your exam mark.

    Economics HL

    This revision guide covers the new IB Diploma Economics Higher Level course (first examination in May 2013). It contains up-to-date content and graphs as well as examination details, questions and advice that will enable students to revise and prepare for their final examinations in a structured and well-focused manner.

    About the Author

    Stephen is an experienced economics teacher and has been teaching the IB for twelve years. He is currently head of Economics, Politics and Business Studies at Malvern College, Worcestershire, England.

    This revision guide covers the new IB Diploma Economics Standard Level course (first examination in May 2013). It contains up-to-date content and graphs as well as examination details, questions and advice that will enable students to revise and prepare for their final examinations in a structured and well-focused manner.

    About the Author

    Stephen is an experienced economics teacher and has been teaching the IB for twelve years. He is currently head of Economics, Politics and Business Studies at Malvern College, Worcestershire, England.

    Numerical questions will be a compulsory part of the higher level Economics exam under the new syllabus for the first examinations in May 2013. Our Economics: Paper 3 Numerical Questions HL guide has been written to help you prepare for these exams, with a series of likely questions taken from parts of the higher level syllabus. These questions aim to test your ability to make calculations through the application of basic mathematical principles consistent with higher level economic data.

    The guide is divided into two parts; the first containing a variety of short questions in order to familiarise the reader with the type of skills and techniques necessary for the exam. The second has two complete tests with detailed answers and explanations.

    About the Author

    George has taught IB Economics since 1992 and has considerable experience as an examiner. As an experienced IB teacher George is used to helping students achieve their best in the examinations and is fully in touch with current exam requirements.

    The new syllabus of the IB Economics Diploma course, for first examination in May 2013, has introduced several changes to the structure of the internal assessment component. The number of commentaries has been reduced from four to three and the criteria for assessment have been changed. This book identifies all the changes and provides detailed guidance on how to prepare for and complete the portfolio of commentaries that make up the internal assessment requirement.

    There are seven sample commentaries together with the articles that they refer to and each section of the syllabus is covered.

    About the Author

    George has taught IB Economics since 1992 and has considerable experience as an examiner. As an experienced IB teacher George is used to helping students achieve their best in the examinations and is fully in touch with current exam requirements.



    What Is Economics? #economics #answers


    #economics answers

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    What Is Economics?

    By Mike Moffatt. Economics Expert

    Updated October 13, 2015.

    What at first may appear to be a relatively simple and straightforward question is actually one economists have been trying to define in their own terms throughout history. So it should be no surprise that there is no one universally-accepted answer to the question: What is economics?

    Browsing the web, you will find various answers to that very question. Even your economics textbook, the basis for a typical high school or college course, may differ ever so slightly from another in its explanation.

    Continue Reading Below

    But each definition shares some common principles, namely those of choice, resources, and scarcity.

    What is Economics: How Others Define Economics

    The Economist s Dictionary of Economics defines economics as the study of the production, distribution, and consumption of wealth in human society.

    Saint Michael s College answers the question, what is economics? with brevity: most simply put, economics is the study of making choices.

    Indiana University answers the question with a longer, more academic approach stating that economics is a social science that studies human behavior. [it] has a unique method for analyzing and predicting individual behavior as well as the effects of institutions such as firms and governments, or clubs and religions.

    What Is Economics: How I Define Economics

    As an economics professor and About.com economics expert, if I were asked to provide an answer to that same question I would likely share something along the lines of the following:

    Economics is the study of how individuals and groups make decisions with limited resources as to best satisfy their wants, needs, and desires.

    From this standpoint, economics is very much the study of choices. Though many are lead to believe that economics is driven purely by money or capital, in reality, it is much more expansive.

    Continue Reading Below

    If the study of economics is the study of how people choose to use their resources, we must consider all of their possible resources, of which money is but one. In practice, resources can encompass everything from time to knowledge and property to tools. Because of this, economics helps illustrate how people interact within the market to realize their diverse goals.

    Beyond defining what these resources are, we must also consider the concept of scarcity. These resources, no matter how broad the category, are limited. This is the source of tension in the choices people and society make. Their decisions are a result of the constant tug of war between unlimited wants and desires and limited resources.

    From this basic understanding of what economics is, we can break down the study of economics into two broad categories: microeconomics and macroeconomics.

    What is Microeconomics?

    In the article What is Microeconomics. we see that microeconomics deals with economic decisions made at a low or micro level. Microeconomics looks at questions that relate to individual people or firms within the economy and analyzing aspects of human behavior. This includes raising and answering questions like, how does the change of a price of good influence a family s purchasing decisions? Or at a more individual level, how a person may ask him or herself, if my wages rise, will I be inclined to work more hours or less hours?

    What is Macroeconomics?

    In contrast to microeconomics, macroeconomics considers similar questions but at a larger level. The study of macroeconomics deals with the sum total of the decisions made by individuals in a society or nation such as how does a change in interest rates influence national savings? It looks the way nations allocate its resources like labor, land, and capital. More information can be found in the article, What is Macroeconomics .

    Where to Go From Here?

    Now you know what economics is, it is time to expand your knowledge of the subject. Here are 6 more entry-level FAQs and answers to get you started:



    AP Economics Notes, Outlines, and Essays #how #to #use #peter #answers


    #economics answers

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    AP Economics

    This course can help prepare students who wish to continue their math or business education after high school, as well as students who wish to perform exceptionally well on the SAT exam. The level of aptitude in this subject will assist students wishing to excel on the SAT and in college courses. Students who wish to take an AP Economics course should have a basic, if not more advanced understanding of mathematic functions. They should also have taken a basic Economics I course to get a solid foundation for their Economics education. Economics can be a particularly tough subject for those with no prior knowledge on the subject, so it’s important to gain as much information as possible before enrolling in the course.

    According to the College Board’s website, AP Economics, both Macroeconomics and Microeconomics courses, are designed to give students a thorough understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the economic systems.

    The AP Economics course is designed to give you a complete understanding of the principles of economics that apply to an economic system as a whole. This course places particular emphasis on the study of national income and price determination, and also develops your familiarity with economic performance measures, economic growth, and international economics.

    The purpose of an AP course in Microeconomics is to provide a complete understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the larger economic system. It places primary emphasis on the nature and functions of product markets, and includes the study of factor markets and of the role of government in promoting greater efficiency and equity in the economy.

    AP Economics is a serious course and includes many course goals. According to the College Board’s website, by the time students take their AP Economics exam (or the SAT exam) they should understand:

    • Basic Economic Concepts- The study of economics requires students to understand that in any economy the existence of limited resources along with unlimited wants results in the need to make choices. Students will become acquainted with the system of wants and need as well as other economic systems that govern our economy.
    • The Nature and Function of Product Markets- The study of the nature and functions of product markets falls into four areas: supply and demand models, consumer choice, production and costs theory of the firm. AP courses will assist students in understanding the flow of money and other goods throughout the market. Students will also be able to understand the short term and long term consequences of economic choices such as price adjustments and unemployment.
    • Factor Markets- Students will apply the concepts of supply and demand to markets for factors such as labor, resources, and property. Students analyze the concept of derived demands as well as how price adjustments affect the allocation of resources across the board.
    • Market Failure and the Role of the Government- An AP Economics course will further a student’s knowledge of the government’s ability to control the economy (and lack thereof). It is important for students to understand the consequences of government intervention in economic choices and what can be done to counteract them if they fail.
    • Students will also learn to utilize study notes, study guides, and various other study techniques in conjunction with AP Economic textbooks such as Economics: Principles in Action and AP Economics. It is important that students realize that Economics courses will typically include a large amount of reading, and failure to keep up with it could result in a failing grade.

    Students considering taking AP Economics or any other AP course should recognize that taking a college course in high school will require both time and energy. Students that choose to excel in these courses will see a huge payoff in their high school GPA as well as in their college exam scores.

    Students that wish to get into the college or university of their choice should seriously consider taking an Advanced Placement course (or several) before graduating from high school. Not only will they look excellent on a student’s high school transcript, they will increase their preparedness for the sometimes high-pressure atmosphere that comes with college. Students that wish to get the most out of their education and excel in college should consider visiting their counselor to discuss taking Advance Placement courses.

    Here you find AP Economics notes for Macroeconomics, 15th Edition textbook by McConnell and Brue. We are working on adding more AP Economics resources like practice quizzes, essays, free response questions, and vocabulary terms.



    Best Applied Economics Programs: List of Top Schools #economics #phd #rankings, #best #applied #economics #programs: #list #of #top #schools


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    Best Applied Economics Programs: List of Top Schools

    Schools Overview

    Many colleges and universities offer applied economics programs through their business or agriculture divisions, since these programs focus on how economics can be applied to fields like labor, agriculture and health. The top schools for economics in general include the University of Minnesota and the University of Michigan. Both schools are highly ranked by U.S. News World Report specifically for their economics programs.

    1. University of Minnesota – Twin Cities

    School Highlight: The University of Minnesota ranked 27th among top public schools, according to U.S.News World Report in 2015.

    The University of Minnesota offers undergraduate and graduate programs in applied economics through its College of Food, Agricultural Natural Resource Sciences. The graduate program includes a Master of Science in Applied Economics and a Doctor of Philosophy (Ph.D.) in Applied Economics. The fields of study are health, labor, consumer behavior, trade, marketing and policy. The school’s undergrad program also offers a Bachelor of Science in Applied Economics, which has emphasis in marketing, food retail, management and finance, environment, trade and public economics.

    2. University of Michigan – Ann Arbor

    School Highlight: In 2015, U.S. News World Report ranked the University of Michigan 29th among national universities.

    The school offers two degrees in applied economics at the graduate level. The Master of Arts in Applied Economics is an interdisciplinary degree focused on practical policies. The degree can be used for entrance into a Ph.D. program; however, it is not an intermediate step. The Ph.D. in Applied Economics coursework takes about two years to complete and is ideal for those interested in academic and research pursuits. Fields of study available include microeconomic theory, advanced macroeconomics, econometric theory, organizational economics, economic development, public finance, international economics, labor and natural resources.

    Find schools that offer these popular programs

    • Applied Economics
    • Development Economics
    • Econometrics
    • International Economics


    Development Economics MSc Course 2017 #development #economics #masters


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    Development Economics

    Who is it for?

    This course is designed for anyone with a quantitative background interested in developing a career as a development economist working for the public or the private sector.

    You have the option of studying full-time over the course of one year or part-time over the course of two years.

    Objectives

    The aim of this course is to develop your analytical, quantitative and modeling abilities as well as to provide you with the background and theoretical foundations of development economics. The dissertation track also serves as a stepping stone to an Economics PhD.

    By the time you graduate, you should be able to

    • Demonstrate knowledge of modern economic theory, at both a micro and a macro level;
    • Analyse the strengths and weaknesses of the relevant empirical and theoretical research methodology;
    • Demonstrate knowledge of econometric theory and techniques and how they apply to development;
    • Critically interpret current research in a combination of fields, namely development, behavioural and experimental economics, financial economics, health economics, macroeconomics, regulation and competition.

    Requirements and how to apply

    You should have some mathematical background (A-level, IB, AP or any other equivalent secondary school qualification) and one of the following:

    • an upper second class degree (or equivalent) undergraduate degree in economics or a related discipline (e.g. finance)
    • an upper second class degree (or equivalent) undergraduate degree in business, management, politics, law, accounting, psychology, quantitative sociology or financial journalism
    • an upper second class degree (or equivalent) undergraduate degree in a quantitative discipline (such as mathematics, engineering, computer science or a natural science)

    Students with a good lower second class degree in one of the above disciplines may be considered on a case-by-case basis.

    All students must also meet the English language requirement for the programme.

    If English is not your first language you will need the following qualification:

    • IELTS with an overall score of 6.5 (with a minimum of 6.0 for each sub-test) OR
    • A first degree from a UK university or an overseas institution recognised by City as providing adequate evidence of proficiency in the English language, for example, from institutions in Australia or the USA.

    Please note that due to changes in the UKVI’s list of SELTs we are no longer able to accept TOEFL as evidence of English language for students who require a CAS as of April 2014.

    All applicants that require a Tier 4 visa must meet the minimum Home Office English Language ability requirements before City can issue the Certificate of Acceptance for Study (CAS) that is needed to apply for a Tier 4 visa.

    INTO English language programmes

    Don t meet the English language requirements? INTO City, University of London offers English language programmes to help prepare you for study at university. These intensive and flexible courses are designed to improve your English ability for entry to degree courses. Learn more about INTO s English for University Study programme.

    If you are not from the European Economic Area / Switzerland and you are coming to study in the UK, you may need to apply for a visa or entry clearance to come to the UK to study.

    The way that you apply may vary depending on the length of your course. There are different rules for:

    • Students on courses of more than six months
    • Students on courses of less than six months
    • Students on a pre-sessional English language course.

    If you require a Tier 4 student visa to study in the UK, you cannot undertake any City courses on a part-time basis.

    For more information see our main Visa page .

    You will be expected to fill out the application online, uploading all relevant documents (application, CV, transcripts, English requirement if necessary and at least one reference). The application is then processed within three weeks.

    Teaching and learning

    You will be taught on a flexible combination of lectures, class and computer lab sessions. Lectures will be used to introduce key theories, concepts and economic models. In classes you will have the opportunity to solve problems, to run empirical studies, to analyse results of existing studies, to make presentations of research published in academic journals. The computer labs will provide you with the practical experience of using computer software to run regressions to analyse models and policies and perform statistical tests. In addition, econometric methods will be taught in lab sessions, thus you will have the opportunity to apply econometric software to empirical research in development economics. When appropriate “practitioner slots” will be incorporated into module delivery, such as research seminars conducted by external experts in development policies and presentation by invited academics, etc.

    Assessments are typically a combination of unseen written examinations (70% for each module) and coursework (30% for each module), but this can vary by module.

    The teaching takes place over two terms, from September to June. Full-time students who pass all the taught modules during the main exam sessions finish the programme at the end of September when they submit their dissertation or literature review. Full-time students who successfully complete the taught modules in the August re-sit exam session submit their dissertation or literature review in December.

    Part-time students complete their modules over the course of four terms from September to June before undertaking their dissertation or literature review.

    Pre-sessionals

    Pre-sessional activities covering Micro-and Macroeconomics, Stata, Excel, Probability and Mathematics run in September before the start of term. These are available for all students who secure a place on the MSc Development Economics course. Pre-sessionals are included in your degree fee and are designed to prepare you for the course. We therefore strongly encourage you to make every effort to attend. Dates of the sessions are as follows:

    • Stata 24 th September 2017
    • Mathematics 26 th September 2017
    • Microeconomics 27 th September 2017
    • Excel 28 th and 29 th September 2017
    • Probability 30 th September 2017
    • Macroeconomics 1 st October 2017

    Please note that you are not required to register for the above pre-sessionals, you just need to turn up on the day. Further information such as the exact times and locations will be provided in your induction schedule.

    Modules

    You will complete 180 credits.

    This includes taught modules worth 120 credits plus 60 credits through either of the below paths.

    • Literature Survey: two extra elective taught modules of 15 credits each and a Literature Survey worth 30 credits
    • Dissertation: a 60 credit Economics Research Project.

    Each module typically has a weekly two-hour lecture and a one-hour tutorial, but this may vary.

    Note: It is not possible to give exact hours per week because these can vary from one term to the other, depending on which electives you choose.

    Core modules

    • The Economics of Micro-Finance (15 credits)
    • Development Economics (15 credits)
    • Microeconomic Theory (30 credits)
    • Econometrics (30 credits)
    • Dissertation (60 credits)

    Elective modules

    • Asset Pricing (15 credits)
    • Macroeconomics (15 credits)

    Core modules

    • The Economics of Micro-Finance (15 credits)
    • Development Economics (15 credits)
    • Microeconomic Analysis (30 credits)
    • Quantitative Methods (30 credits)
    • Literature Survey (30 credits)

    Elective modules

    • Welfare Economics (15 credits)
    • International Macroeconomics (15 credits)
    • Economics of Regulation and Competition (15 credits)
    • Health Economics (15 credits)
    • History of Economic Thought (15 credits)
    • Corporate Finance (15 credits)
    • Experimental Economics and Game Theory (15 credits)
    • Development and World Politics (15 credits)*
    • Political Economy of Global Finance (15 credits)*
    • The Politics of Forced Migration (15 credits)*

    * Students on the dissertation path can take only 1 of these modules, which are taught in the Department of International Politics. Students on the literature survey path can take up to 2 of these modules.



    What Is Economics? #wikipedia #questions #and #answers


    #economics answers

    #

    What Is Economics?

    By Mike Moffatt. Economics Expert

    Updated October 13, 2015.

    What at first may appear to be a relatively simple and straightforward question is actually one economists have been trying to define in their own terms throughout history. So it should be no surprise that there is no one universally-accepted answer to the question: What is economics?

    Browsing the web, you will find various answers to that very question. Even your economics textbook, the basis for a typical high school or college course, may differ ever so slightly from another in its explanation.

    Continue Reading Below

    But each definition shares some common principles, namely those of choice, resources, and scarcity.

    What is Economics: How Others Define Economics

    The Economist s Dictionary of Economics defines economics as the study of the production, distribution, and consumption of wealth in human society.

    Saint Michael s College answers the question, what is economics? with brevity: most simply put, economics is the study of making choices.

    Indiana University answers the question with a longer, more academic approach stating that economics is a social science that studies human behavior. [it] has a unique method for analyzing and predicting individual behavior as well as the effects of institutions such as firms and governments, or clubs and religions.

    What Is Economics: How I Define Economics

    As an economics professor and About.com economics expert, if I were asked to provide an answer to that same question I would likely share something along the lines of the following:

    Economics is the study of how individuals and groups make decisions with limited resources as to best satisfy their wants, needs, and desires.

    From this standpoint, economics is very much the study of choices. Though many are lead to believe that economics is driven purely by money or capital, in reality, it is much more expansive.

    Continue Reading Below

    If the study of economics is the study of how people choose to use their resources, we must consider all of their possible resources, of which money is but one. In practice, resources can encompass everything from time to knowledge and property to tools. Because of this, economics helps illustrate how people interact within the market to realize their diverse goals.

    Beyond defining what these resources are, we must also consider the concept of scarcity. These resources, no matter how broad the category, are limited. This is the source of tension in the choices people and society make. Their decisions are a result of the constant tug of war between unlimited wants and desires and limited resources.

    From this basic understanding of what economics is, we can break down the study of economics into two broad categories: microeconomics and macroeconomics.

    What is Microeconomics?

    In the article What is Microeconomics. we see that microeconomics deals with economic decisions made at a low or micro level. Microeconomics looks at questions that relate to individual people or firms within the economy and analyzing aspects of human behavior. This includes raising and answering questions like, how does the change of a price of good influence a family s purchasing decisions? Or at a more individual level, how a person may ask him or herself, if my wages rise, will I be inclined to work more hours or less hours?

    What is Macroeconomics?

    In contrast to microeconomics, macroeconomics considers similar questions but at a larger level. The study of macroeconomics deals with the sum total of the decisions made by individuals in a society or nation such as how does a change in interest rates influence national savings? It looks the way nations allocate its resources like labor, land, and capital. More information can be found in the article, What is Macroeconomics .

    Where to Go From Here?

    Now you know what economics is, it is time to expand your knowledge of the subject. Here are 6 more entry-level FAQs and answers to get you started:



    Economics: Practice Questions with Answers for Papers 1 and 2 HL #quiz #questions #and #answers


    #economics answers

    #

    OSC Study Guides

    Our International Baccalaureate (IB) Economics HL and SL books provide you with a solid outline of every aspect in the Economics Syllabus. The emphasis is on subject knowledge, structure of knowledge and how to answer examination questions.

    The exam is a test of how you use economic theories and concepts to solve economic questions and problems. With plenty of diagrams and IBDP-type questions, these books help you to successfully tackle the questions to help maximise your exam mark.

    Economics HL

    This revision guide covers the new IB Diploma Economics Higher Level course (first examination in May 2013). It contains up-to-date content and graphs as well as examination details, questions and advice that will enable students to revise and prepare for their final examinations in a structured and well-focused manner.

    About the Author

    Stephen is an experienced economics teacher and has been teaching the IB for twelve years. He is currently head of Economics, Politics and Business Studies at Malvern College, Worcestershire, England.

    This revision guide covers the new IB Diploma Economics Standard Level course (first examination in May 2013). It contains up-to-date content and graphs as well as examination details, questions and advice that will enable students to revise and prepare for their final examinations in a structured and well-focused manner.

    About the Author

    Stephen is an experienced economics teacher and has been teaching the IB for twelve years. He is currently head of Economics, Politics and Business Studies at Malvern College, Worcestershire, England.

    Numerical questions will be a compulsory part of the higher level Economics exam under the new syllabus for the first examinations in May 2013. Our Economics: Paper 3 Numerical Questions HL guide has been written to help you prepare for these exams, with a series of likely questions taken from parts of the higher level syllabus. These questions aim to test your ability to make calculations through the application of basic mathematical principles consistent with higher level economic data.

    The guide is divided into two parts; the first containing a variety of short questions in order to familiarise the reader with the type of skills and techniques necessary for the exam. The second has two complete tests with detailed answers and explanations.

    About the Author

    George has taught IB Economics since 1992 and has considerable experience as an examiner. As an experienced IB teacher George is used to helping students achieve their best in the examinations and is fully in touch with current exam requirements.

    The new syllabus of the IB Economics Diploma course, for first examination in May 2013, has introduced several changes to the structure of the internal assessment component. The number of commentaries has been reduced from four to three and the criteria for assessment have been changed. This book identifies all the changes and provides detailed guidance on how to prepare for and complete the portfolio of commentaries that make up the internal assessment requirement.

    There are seven sample commentaries together with the articles that they refer to and each section of the syllabus is covered.

    About the Author

    George has taught IB Economics since 1992 and has considerable experience as an examiner. As an experienced IB teacher George is used to helping students achieve their best in the examinations and is fully in touch with current exam requirements.



    AP Economics Notes, Outlines, and Essays #math #answers


    #economics answers

    #

    AP Economics

    This course can help prepare students who wish to continue their math or business education after high school, as well as students who wish to perform exceptionally well on the SAT exam. The level of aptitude in this subject will assist students wishing to excel on the SAT and in college courses. Students who wish to take an AP Economics course should have a basic, if not more advanced understanding of mathematic functions. They should also have taken a basic Economics I course to get a solid foundation for their Economics education. Economics can be a particularly tough subject for those with no prior knowledge on the subject, so it’s important to gain as much information as possible before enrolling in the course.

    According to the College Board’s website, AP Economics, both Macroeconomics and Microeconomics courses, are designed to give students a thorough understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the economic systems.

    The AP Economics course is designed to give you a complete understanding of the principles of economics that apply to an economic system as a whole. This course places particular emphasis on the study of national income and price determination, and also develops your familiarity with economic performance measures, economic growth, and international economics.

    The purpose of an AP course in Microeconomics is to provide a complete understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the larger economic system. It places primary emphasis on the nature and functions of product markets, and includes the study of factor markets and of the role of government in promoting greater efficiency and equity in the economy.

    AP Economics is a serious course and includes many course goals. According to the College Board’s website, by the time students take their AP Economics exam (or the SAT exam) they should understand:

    • Basic Economic Concepts- The study of economics requires students to understand that in any economy the existence of limited resources along with unlimited wants results in the need to make choices. Students will become acquainted with the system of wants and need as well as other economic systems that govern our economy.
    • The Nature and Function of Product Markets- The study of the nature and functions of product markets falls into four areas: supply and demand models, consumer choice, production and costs theory of the firm. AP courses will assist students in understanding the flow of money and other goods throughout the market. Students will also be able to understand the short term and long term consequences of economic choices such as price adjustments and unemployment.
    • Factor Markets- Students will apply the concepts of supply and demand to markets for factors such as labor, resources, and property. Students analyze the concept of derived demands as well as how price adjustments affect the allocation of resources across the board.
    • Market Failure and the Role of the Government- An AP Economics course will further a student’s knowledge of the government’s ability to control the economy (and lack thereof). It is important for students to understand the consequences of government intervention in economic choices and what can be done to counteract them if they fail.
    • Students will also learn to utilize study notes, study guides, and various other study techniques in conjunction with AP Economic textbooks such as Economics: Principles in Action and AP Economics. It is important that students realize that Economics courses will typically include a large amount of reading, and failure to keep up with it could result in a failing grade.

    Students considering taking AP Economics or any other AP course should recognize that taking a college course in high school will require both time and energy. Students that choose to excel in these courses will see a huge payoff in their high school GPA as well as in their college exam scores.

    Students that wish to get into the college or university of their choice should seriously consider taking an Advanced Placement course (or several) before graduating from high school. Not only will they look excellent on a student’s high school transcript, they will increase their preparedness for the sometimes high-pressure atmosphere that comes with college. Students that wish to get the most out of their education and excel in college should consider visiting their counselor to discuss taking Advance Placement courses.

    Here you find AP Economics notes for Macroeconomics, 15th Edition textbook by McConnell and Brue. We are working on adding more AP Economics resources like practice quizzes, essays, free response questions, and vocabulary terms.



    A-Level JC Economics Past Year Exam Question Papers & Answers #math #problem #answers


    #economics answers

    #

    Economics Past Year Exam Papers

    Economics Questions Predictions Past Year Exam Papers Model Answers 100% FREE!

    Searching for Economics past year exam papers to learn and model the myriad of answering techniques for both case studies and essays?

    It is one of the most straight forward shortcuts in learning: modelling through previous questions from previous exam papers. While it is sufficient to read and understand the JC Econs concepts, principles and theories on your own, it is not so for exam skills and answering strategies.

    Without the chance to model and the exam techniques on how to apply, analyse and evaluate across all the Economic topics of Micrcoeconomics and Macroeconomics, you won t be able to internalise these higher order thinking exam skills in the shortest time possible.

    Note: We are unable to provide the question papers as SEAB owns the copyrights. Kindly purchase a copy of the past year exam paper and its questions from your local bookstore or school bookshop. The answers are as follows:

    Question predictions Past Year Answers:

    Meaning, to conquer Economics knowledge, exam skills and time management, within the typical time frame of 2 years in junior college (JCs), it is a tall order. You definitely need help.

    On our website at EconomicsTuition.com . feel free to use all the past year exam question papers for your answer modeling needs.

    You can access the following:

    A. Cambridge-UCLES-SEAB GCE A-Level Economics examinations (past year, year by year)

    1. A-Level H2 Economics

    2011 H1 Economics Question Paper
    . 2011 H1 Economics Case Study Answers
    . 2011 H1 Economics Essay Answers

    2010 H1 Economics Question Paper
    . 2010 H1 Economics Case Study Answers
    . 2010 H1 Economics Essay Answers

    2009 H1 Economics Question Paper (Predictions)
    . 2009 H1 Economics Case Study Answers
    . 2009 H1 Economics Essay Answers

    2008 H1 Economics Question Paper (Predictions)
    . 2008 H1 Economics Case Study Answers
    . 2008 H1 Economics Essay Answers

    2007 H1 Economics Question Paper (Predictions)
    . 2007 H1 Economics Case Study Answers
    . 2007 H1 Economics Essay Answers

    B. Junior College (JC) GCE A-Level Economics examinations (past year, year by year)

    Due to the immense number of JC Economics Prelim Exam papers, we are unable to produce the whole set on our Econs website. For now, we can only provide a sample set for your use. All Econs students in our JC H2 Economics tuition class will receive a set.

    2015 H2 JC Economics Question Paper (Exam Predictions, as of 9th July 2015)

    2014 H2 JC Economics Question Paper (Exam Predictions, as of 15th July 2014)
    . 2014 H2 JC Economics Case Study Answers
    . 2014 H2 JC Economics Essay Answers

    2013 H2 JC Economics Question Paper (Exam Predictions, as of 11th August 2013)
    . 2013 H2 JC Economics Case Study Answers
    . 2013 H2 JC Economics Essay Answers

    2012 H2 JC Economics Question Paper (Exam Predictions, as of 1st August 2012)
    . 2012 H2 JC Economics Case Study Answers
    . 2012 H2 JC Economics Essay Answers

    2011 H2 JC Economics Question Paper (Exam Predictions, as of 25th July 2011)
    . 2011 H2 JC Economics Case Study Answers
    . 2011 H2 JC Economics Essay Answers

    Kindly note that we are unable to produce the whole set on our Economics website. For now, we can only provide a small sample set for your use. All Econs pupils in our ongoing and intensive JC H1 Econs tuition lessons actually receive a set each.

    2015 H1 JC Economics Question Paper (Exam Predictions, as of 9th July 2015. TBU)

    2014 H1 JC Economics Question Paper
    . 2014 H1 JC Economics Case Study Answers
    . 2014 H1 JC Economics Essay Answers

    2013 H1 JC Economics Question Paper
    . 2013 H1 JC Economics Case Study Answers
    . 2013 H1 JC Economics Essay Answers

    2012 H1 JC Economics Question Paper
    . 2012 H1 JC Economics Case Study Answers
    . 2012 H1 JC Economics Essay Answers

    2011 H1 JC Economics Question Paper
    . 2011 H1 JC Economics Case Study Answers
    . 2011 H1 JC Economics Essay Answers

    If you require any specific year s answers for past exam paper for Economics, let us know at admin (at) learnitive.com . and we will try to provide the questions here.

    Alternatively, if you have any JC prelim question paper you would like to share with us, email a soft copy to us, and we will provide the complete sample answers for the Economics essays and case studies for that paper.

    All the Best for your JC Promos, Prelims A-Level H1 H2 Econs Examinations this year!

    Meanwhile, Happy Revision!

    Note:
    Adam Smith Learning Centre is not affiliated with, maintained by, or in any way officially connected with the Singapore Examinations Assessment Board (SEAB), Ministry of Education (MOE), Cambridge International Examinations (CIE). or any of its business units.

    October 25th, 2016



    Economics answers #answers #wiki


    #economics answers

    #

    Economics

    Get Connect Economics. Get Results.

    Connect Economics is a proven tool to help students earn better grades and instructors optimize their time and energy. Instructors can easily create assignments correlated to learning objectives and Bloom’s Taxonomy. Students receive immediate, detailed feedback on their work, allowing them to focus on areas where they need improvement.

    Features

    LearnSmart

    LearnSmart is an adaptive study tool proven to strengthen memory recall, increase class retention, and boost grades. Students are able to study more efficiently because they are made aware of what they know and don’t know. Real-time reports quickly identify the concepts that require more attention from individual students—or the entire class.

    Video Cases

    Two-part video segments featuring real business examples and auto-graded, integrated concept checks help students apply economic concepts to the world around them.

    Logic Cases

    Auto-graded, multi-part “capstone” exercises available for each chapter designed to help students see connections between key topics in the chapter and think critically about economics.

    Case Study

    Professor Sam Mirmirani needed to free up the considerable amount of time he was spending grading homework exercises and reviewing assignments. He also wanted his students to take on more responsibility for completing homework, while providing them with a resource to review for exams rather than take up valuable class time for review prior to the midterm and final. By implementing Connect Economics, Professor Mirmirani has shaved his grading time from 10 hours per week to one hour per week, and his students have ample review opportunities to prepare for exams on their own. Now, Mirmirani reports, he sees far less traffic during his office hours and when students do come to his office, they know exactly what they need help with based on the feedback they receive from Connect.

    Community Peer Training

    Digital Faculty Consultants

    A network of passionate educators, dedicated to advancing student learning through educational technologies, resources, and collaboration opportunities.

    Deb Thorsen

    DFC for Economics

    Palm Beach State College Eissey Campus

    Jeffrey Forrest

    DFC for Economics

    Saint Louis Community College – Meramec – Kirkwood

    Ludmila Leontyeva

    DFC for Economics



    ECONOMICS PAST PAPER QUESTIONS WITH ANSWERS – price elasticity and inflation #answering #service


    #economics answers

    #

    ECONOMICS PAST PAPER QUESTIONS WITH ANSWERS – price elasticity and inflation.

    Extracts from this document.

    ECONOMICS PAST PAPER QUESTIONS WITH ANSWERS. Q1) Discuss whether inflation is necessarily harmful. (12) ANS 1:- Inflation is usually defined as a situation in which there is a persistent increase in the general price level. During inflation, cost of living rises, and hence, the purchasing power or the value of money falls. Usually inflation is an evil to an economy, and hence, reducing inflation is one of the macro-economic aims of every government. However, the effects of inflation depend on its level, whether it is constant or accelerating and whether it is anticipated or unanticipated. There are lots of economic costs associated with inflation:- 1. Shoe-leather costs: High rates of inflation mean that people and companies may lose considerable purchasing power if they keep money lying idle and not earning interest. Inflation erodes the value of cash and therefore, firms and households prefer to hold less cash but more interest bearing deposits / assets. Shoe leather costs are the costs involved in moving money from one financial asset to another in search of the highest rate of interest. 2. Menus costs: Firms will also suffer from menu costs. . read more.

    Those unable to pay a higher prices will be eliminated from the market. Price rations scarce goods to those who can afford to pay the price. Hence, for price to act as a rationing mechanism, the effect of a rising price must be to reduce the quantity demanded by some individuals. Secondly, prices act as signals and guides to firms about what should be produced in the future. Producers aim at profit maximisation. If consumers wish to consume more of a particular commodity then its price will tend to rise. This indicates to firms that more should be produced; at the same time it provides and incentive for more factors of production to move into that line of production. Firms making the good will be earning high profits. They will wish to expand output. To obtain more of the new materials, machinery and workers wanted they will be prepared to offer higher prices and thus more resources will be drawn to this line of production to meet the increase in demand. In the process we see the operation of what to Adam Smith was like and ?invisible hand? by which individuals, following their own self interest. led to pursue the interests of the community. . read more.

    This is a statistical measure that expresses the average price of some group of commodities in some year as a percentage of the average price of the same commodities in some other year. Problems in measuring inflation accurately can arise from the following reasons 1. The choice of the base year: The selection of the base year is a very complicated task. The prices in the chosen base year should be reasonably steady. Periods of severe inflation, deflation or recession should be avoided. 2. The price index is not able to take into account changes in quality: A commodity may not have changed in price but its quality may have fallen. Conversely, a good may be more expensive because it is of a better quality than before. Such changes in quality affect the consumer?s standard of living but cannot be reflected in the price index. 3. Finding a representative group of commodities: In selecting commodities to include in the basket of goods, accurate information on expenditure patterns of households is needed. But there are great difficulties in collecting such data. People are unwilling to disclose their expenditure truthfully. Besides, different income groups do not share the same basket of goods. Even people with the same income do not buy the same commodities in the basket. Thus, the construction of consumer price index involves a lot of guesswork. . read more.

    The above preview is unformatted text

    This student written piece of work is one of many that can be found in our AS and A Level Macroeconomics section.

    Found what you’re looking for?

    Related AS and A Level Macroeconomics essays

    Looking for expert help with your Economics work?



    Hedge Funds Sell Near-Record Amount Of Stock (Follow – Insiders – Bank Execs) #zero #hedge,zerohedge,finance,economics,markets,politics,analysis,real #estate


    #

    Hedge Funds Sell Near-Record Amount Of Stock (Follow Insiders Bank Execs)

    We know the big bank executives have been dumping $100 millions as their stock prices have soared .

    We also now that corporate insiders are dumping their own stocks at the fastest pace in years .

    And now we know that, as BofAML reports, net sales by hedge funds last week were the third-largest in history and the largest since last Feb.

    Private clients were net buyers for the straight week, while institutional clients sold stocks for the fifth week and hedge funds were also net sellers following four weeks of net buying. Clients sold large and mid caps but bought small caps. Buybacks by corporate clients picked up slightly vs. the prior week, but year-to-date are tracking the lowest of any comparable period since 2012.

    Net sales were largest in Consumer Discretionary – which notably saw its biggest sales by our clients in our data history (since 2008).

    All three client groups (hedge funds, institutional clients, private clients) were sellers of Discretionary stocks last week, where this sector has seen among the weakest results and guidance this earnings season. Clients also sold stocks in Tech, Real Estate, Materials and Utilities.

    As we warned previously. If you can t spot the sucker at the table. it s you!



    AP Economics Notes, Outlines, and Essays #binweevils #crossword #answers


    #economics answers

    #

    AP Economics

    This course can help prepare students who wish to continue their math or business education after high school, as well as students who wish to perform exceptionally well on the SAT exam. The level of aptitude in this subject will assist students wishing to excel on the SAT and in college courses. Students who wish to take an AP Economics course should have a basic, if not more advanced understanding of mathematic functions. They should also have taken a basic Economics I course to get a solid foundation for their Economics education. Economics can be a particularly tough subject for those with no prior knowledge on the subject, so it’s important to gain as much information as possible before enrolling in the course.

    According to the College Board’s website, AP Economics, both Macroeconomics and Microeconomics courses, are designed to give students a thorough understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the economic systems.

    The AP Economics course is designed to give you a complete understanding of the principles of economics that apply to an economic system as a whole. This course places particular emphasis on the study of national income and price determination, and also develops your familiarity with economic performance measures, economic growth, and international economics.

    The purpose of an AP course in Microeconomics is to provide a complete understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the larger economic system. It places primary emphasis on the nature and functions of product markets, and includes the study of factor markets and of the role of government in promoting greater efficiency and equity in the economy.

    AP Economics is a serious course and includes many course goals. According to the College Board’s website, by the time students take their AP Economics exam (or the SAT exam) they should understand:

    • Basic Economic Concepts- The study of economics requires students to understand that in any economy the existence of limited resources along with unlimited wants results in the need to make choices. Students will become acquainted with the system of wants and need as well as other economic systems that govern our economy.
    • The Nature and Function of Product Markets- The study of the nature and functions of product markets falls into four areas: supply and demand models, consumer choice, production and costs theory of the firm. AP courses will assist students in understanding the flow of money and other goods throughout the market. Students will also be able to understand the short term and long term consequences of economic choices such as price adjustments and unemployment.
    • Factor Markets- Students will apply the concepts of supply and demand to markets for factors such as labor, resources, and property. Students analyze the concept of derived demands as well as how price adjustments affect the allocation of resources across the board.
    • Market Failure and the Role of the Government- An AP Economics course will further a student’s knowledge of the government’s ability to control the economy (and lack thereof). It is important for students to understand the consequences of government intervention in economic choices and what can be done to counteract them if they fail.
    • Students will also learn to utilize study notes, study guides, and various other study techniques in conjunction with AP Economic textbooks such as Economics: Principles in Action and AP Economics. It is important that students realize that Economics courses will typically include a large amount of reading, and failure to keep up with it could result in a failing grade.

    Students considering taking AP Economics or any other AP course should recognize that taking a college course in high school will require both time and energy. Students that choose to excel in these courses will see a huge payoff in their high school GPA as well as in their college exam scores.

    Students that wish to get into the college or university of their choice should seriously consider taking an Advanced Placement course (or several) before graduating from high school. Not only will they look excellent on a student’s high school transcript, they will increase their preparedness for the sometimes high-pressure atmosphere that comes with college. Students that wish to get the most out of their education and excel in college should consider visiting their counselor to discuss taking Advance Placement courses.

    Here you find AP Economics notes for Macroeconomics, 15th Edition textbook by McConnell and Brue. We are working on adding more AP Economics resources like practice quizzes, essays, free response questions, and vocabulary terms.



    What Is Economics? #answer #any #question


    #economics answers

    #

    What Is Economics?

    By Mike Moffatt. Economics Expert

    Updated October 13, 2015.

    What at first may appear to be a relatively simple and straightforward question is actually one economists have been trying to define in their own terms throughout history. So it should be no surprise that there is no one universally-accepted answer to the question: What is economics?

    Browsing the web, you will find various answers to that very question. Even your economics textbook, the basis for a typical high school or college course, may differ ever so slightly from another in its explanation.

    Continue Reading Below

    But each definition shares some common principles, namely those of choice, resources, and scarcity.

    What is Economics: How Others Define Economics

    The Economist s Dictionary of Economics defines economics as the study of the production, distribution, and consumption of wealth in human society.

    Saint Michael s College answers the question, what is economics? with brevity: most simply put, economics is the study of making choices.

    Indiana University answers the question with a longer, more academic approach stating that economics is a social science that studies human behavior. [it] has a unique method for analyzing and predicting individual behavior as well as the effects of institutions such as firms and governments, or clubs and religions.

    What Is Economics: How I Define Economics

    As an economics professor and About.com economics expert, if I were asked to provide an answer to that same question I would likely share something along the lines of the following:

    Economics is the study of how individuals and groups make decisions with limited resources as to best satisfy their wants, needs, and desires.

    From this standpoint, economics is very much the study of choices. Though many are lead to believe that economics is driven purely by money or capital, in reality, it is much more expansive.

    Continue Reading Below

    If the study of economics is the study of how people choose to use their resources, we must consider all of their possible resources, of which money is but one. In practice, resources can encompass everything from time to knowledge and property to tools. Because of this, economics helps illustrate how people interact within the market to realize their diverse goals.

    Beyond defining what these resources are, we must also consider the concept of scarcity. These resources, no matter how broad the category, are limited. This is the source of tension in the choices people and society make. Their decisions are a result of the constant tug of war between unlimited wants and desires and limited resources.

    From this basic understanding of what economics is, we can break down the study of economics into two broad categories: microeconomics and macroeconomics.

    What is Microeconomics?

    In the article What is Microeconomics. we see that microeconomics deals with economic decisions made at a low or micro level. Microeconomics looks at questions that relate to individual people or firms within the economy and analyzing aspects of human behavior. This includes raising and answering questions like, how does the change of a price of good influence a family s purchasing decisions? Or at a more individual level, how a person may ask him or herself, if my wages rise, will I be inclined to work more hours or less hours?

    What is Macroeconomics?

    In contrast to microeconomics, macroeconomics considers similar questions but at a larger level. The study of macroeconomics deals with the sum total of the decisions made by individuals in a society or nation such as how does a change in interest rates influence national savings? It looks the way nations allocate its resources like labor, land, and capital. More information can be found in the article, What is Macroeconomics .

    Where to Go From Here?

    Now you know what economics is, it is time to expand your knowledge of the subject. Here are 6 more entry-level FAQs and answers to get you started:



    Economics: Practice Questions with Answers for Papers 1 and 2 HL #the #impossible #quiz #2 #answers


    #economics answers

    #

    OSC Study Guides

    Our International Baccalaureate (IB) Economics HL and SL books provide you with a solid outline of every aspect in the Economics Syllabus. The emphasis is on subject knowledge, structure of knowledge and how to answer examination questions.

    The exam is a test of how you use economic theories and concepts to solve economic questions and problems. With plenty of diagrams and IBDP-type questions, these books help you to successfully tackle the questions to help maximise your exam mark.

    Economics HL

    This revision guide covers the new IB Diploma Economics Higher Level course (first examination in May 2013). It contains up-to-date content and graphs as well as examination details, questions and advice that will enable students to revise and prepare for their final examinations in a structured and well-focused manner.

    About the Author

    Stephen is an experienced economics teacher and has been teaching the IB for twelve years. He is currently head of Economics, Politics and Business Studies at Malvern College, Worcestershire, England.

    This revision guide covers the new IB Diploma Economics Standard Level course (first examination in May 2013). It contains up-to-date content and graphs as well as examination details, questions and advice that will enable students to revise and prepare for their final examinations in a structured and well-focused manner.

    About the Author

    Stephen is an experienced economics teacher and has been teaching the IB for twelve years. He is currently head of Economics, Politics and Business Studies at Malvern College, Worcestershire, England.

    Numerical questions will be a compulsory part of the higher level Economics exam under the new syllabus for the first examinations in May 2013. Our Economics: Paper 3 Numerical Questions HL guide has been written to help you prepare for these exams, with a series of likely questions taken from parts of the higher level syllabus. These questions aim to test your ability to make calculations through the application of basic mathematical principles consistent with higher level economic data.

    The guide is divided into two parts; the first containing a variety of short questions in order to familiarise the reader with the type of skills and techniques necessary for the exam. The second has two complete tests with detailed answers and explanations.

    About the Author

    George has taught IB Economics since 1992 and has considerable experience as an examiner. As an experienced IB teacher George is used to helping students achieve their best in the examinations and is fully in touch with current exam requirements.

    The new syllabus of the IB Economics Diploma course, for first examination in May 2013, has introduced several changes to the structure of the internal assessment component. The number of commentaries has been reduced from four to three and the criteria for assessment have been changed. This book identifies all the changes and provides detailed guidance on how to prepare for and complete the portfolio of commentaries that make up the internal assessment requirement.

    There are seven sample commentaries together with the articles that they refer to and each section of the syllabus is covered.

    About the Author

    George has taught IB Economics since 1992 and has considerable experience as an examiner. As an experienced IB teacher George is used to helping students achieve their best in the examinations and is fully in touch with current exam requirements.



    A-Level JC Economics Past Year Exam Question Papers & Answers #thesaurus #and


    #economics answers

    #

    Economics Past Year Exam Papers

    Economics Questions Predictions Past Year Exam Papers Model Answers 100% FREE!

    Searching for Economics past year exam papers to learn and model the myriad of answering techniques for both case studies and essays?

    It is one of the most straight forward shortcuts in learning: modelling through previous questions from previous exam papers. While it is sufficient to read and understand the JC Econs concepts, principles and theories on your own, it is not so for exam skills and answering strategies.

    Without the chance to model and the exam techniques on how to apply, analyse and evaluate across all the Economic topics of Micrcoeconomics and Macroeconomics, you won t be able to internalise these higher order thinking exam skills in the shortest time possible.

    Note: We are unable to provide the question papers as SEAB owns the copyrights. Kindly purchase a copy of the past year exam paper and its questions from your local bookstore or school bookshop. The answers are as follows:

    Question predictions Past Year Answers:

    Meaning, to conquer Economics knowledge, exam skills and time management, within the typical time frame of 2 years in junior college (JCs), it is a tall order. You definitely need help.

    On our website at EconomicsTuition.com . feel free to use all the past year exam question papers for your answer modeling needs.

    You can access the following:

    A. Cambridge-UCLES-SEAB GCE A-Level Economics examinations (past year, year by year)

    1. A-Level H2 Economics

    2011 H1 Economics Question Paper
    . 2011 H1 Economics Case Study Answers
    . 2011 H1 Economics Essay Answers

    2010 H1 Economics Question Paper
    . 2010 H1 Economics Case Study Answers
    . 2010 H1 Economics Essay Answers

    2009 H1 Economics Question Paper (Predictions)
    . 2009 H1 Economics Case Study Answers
    . 2009 H1 Economics Essay Answers

    2008 H1 Economics Question Paper (Predictions)
    . 2008 H1 Economics Case Study Answers
    . 2008 H1 Economics Essay Answers

    2007 H1 Economics Question Paper (Predictions)
    . 2007 H1 Economics Case Study Answers
    . 2007 H1 Economics Essay Answers

    B. Junior College (JC) GCE A-Level Economics examinations (past year, year by year)

    Due to the immense number of JC Economics Prelim Exam papers, we are unable to produce the whole set on our Econs website. For now, we can only provide a sample set for your use. All Econs students in our JC H2 Economics tuition class will receive a set.

    2015 H2 JC Economics Question Paper (Exam Predictions, as of 9th July 2015)

    2014 H2 JC Economics Question Paper (Exam Predictions, as of 15th July 2014)
    . 2014 H2 JC Economics Case Study Answers
    . 2014 H2 JC Economics Essay Answers

    2013 H2 JC Economics Question Paper (Exam Predictions, as of 11th August 2013)
    . 2013 H2 JC Economics Case Study Answers
    . 2013 H2 JC Economics Essay Answers

    2012 H2 JC Economics Question Paper (Exam Predictions, as of 1st August 2012)
    . 2012 H2 JC Economics Case Study Answers
    . 2012 H2 JC Economics Essay Answers

    2011 H2 JC Economics Question Paper (Exam Predictions, as of 25th July 2011)
    . 2011 H2 JC Economics Case Study Answers
    . 2011 H2 JC Economics Essay Answers

    Kindly note that we are unable to produce the whole set on our Economics website. For now, we can only provide a small sample set for your use. All Econs pupils in our ongoing and intensive JC H1 Econs tuition lessons actually receive a set each.

    2015 H1 JC Economics Question Paper (Exam Predictions, as of 9th July 2015. TBU)

    2014 H1 JC Economics Question Paper
    . 2014 H1 JC Economics Case Study Answers
    . 2014 H1 JC Economics Essay Answers

    2013 H1 JC Economics Question Paper
    . 2013 H1 JC Economics Case Study Answers
    . 2013 H1 JC Economics Essay Answers

    2012 H1 JC Economics Question Paper
    . 2012 H1 JC Economics Case Study Answers
    . 2012 H1 JC Economics Essay Answers

    2011 H1 JC Economics Question Paper
    . 2011 H1 JC Economics Case Study Answers
    . 2011 H1 JC Economics Essay Answers

    If you require any specific year s answers for past exam paper for Economics, let us know at admin (at) learnitive.com . and we will try to provide the questions here.

    Alternatively, if you have any JC prelim question paper you would like to share with us, email a soft copy to us, and we will provide the complete sample answers for the Economics essays and case studies for that paper.

    All the Best for your JC Promos, Prelims A-Level H1 H2 Econs Examinations this year!

    Meanwhile, Happy Revision!

    Note:
    Adam Smith Learning Centre is not affiliated with, maintained by, or in any way officially connected with the Singapore Examinations Assessment Board (SEAB), Ministry of Education (MOE), Cambridge International Examinations (CIE). or any of its business units.

    October 25th, 2016



    Economics answers #the #definition #of #antonyms


    #economics answers

    #

    Economics

    Get Connect Economics. Get Results.

    Connect Economics is a proven tool to help students earn better grades and instructors optimize their time and energy. Instructors can easily create assignments correlated to learning objectives and Bloom’s Taxonomy. Students receive immediate, detailed feedback on their work, allowing them to focus on areas where they need improvement.

    Features

    LearnSmart

    LearnSmart is an adaptive study tool proven to strengthen memory recall, increase class retention, and boost grades. Students are able to study more efficiently because they are made aware of what they know and don’t know. Real-time reports quickly identify the concepts that require more attention from individual students—or the entire class.

    Video Cases

    Two-part video segments featuring real business examples and auto-graded, integrated concept checks help students apply economic concepts to the world around them.

    Logic Cases

    Auto-graded, multi-part “capstone” exercises available for each chapter designed to help students see connections between key topics in the chapter and think critically about economics.

    Case Study

    Professor Sam Mirmirani needed to free up the considerable amount of time he was spending grading homework exercises and reviewing assignments. He also wanted his students to take on more responsibility for completing homework, while providing them with a resource to review for exams rather than take up valuable class time for review prior to the midterm and final. By implementing Connect Economics, Professor Mirmirani has shaved his grading time from 10 hours per week to one hour per week, and his students have ample review opportunities to prepare for exams on their own. Now, Mirmirani reports, he sees far less traffic during his office hours and when students do come to his office, they know exactly what they need help with based on the feedback they receive from Connect.

    Community Peer Training

    Digital Faculty Consultants

    A network of passionate educators, dedicated to advancing student learning through educational technologies, resources, and collaboration opportunities.

    Deb Thorsen

    DFC for Economics

    Palm Beach State College Eissey Campus

    Jeffrey Forrest

    DFC for Economics

    Saint Louis Community College – Meramec – Kirkwood

    Ludmila Leontyeva

    DFC for Economics



    ECONOMICS PAST PAPER QUESTIONS WITH ANSWERS – price elasticity and inflation #math #problems #and #answers


    #economics answers

    #

    ECONOMICS PAST PAPER QUESTIONS WITH ANSWERS – price elasticity and inflation.

    Extracts from this document.

    ECONOMICS PAST PAPER QUESTIONS WITH ANSWERS. Q1) Discuss whether inflation is necessarily harmful. (12) ANS 1:- Inflation is usually defined as a situation in which there is a persistent increase in the general price level. During inflation, cost of living rises, and hence, the purchasing power or the value of money falls. Usually inflation is an evil to an economy, and hence, reducing inflation is one of the macro-economic aims of every government. However, the effects of inflation depend on its level, whether it is constant or accelerating and whether it is anticipated or unanticipated. There are lots of economic costs associated with inflation:- 1. Shoe-leather costs: High rates of inflation mean that people and companies may lose considerable purchasing power if they keep money lying idle and not earning interest. Inflation erodes the value of cash and therefore, firms and households prefer to hold less cash but more interest bearing deposits / assets. Shoe leather costs are the costs involved in moving money from one financial asset to another in search of the highest rate of interest. 2. Menus costs: Firms will also suffer from menu costs. . read more.

    Those unable to pay a higher prices will be eliminated from the market. Price rations scarce goods to those who can afford to pay the price. Hence, for price to act as a rationing mechanism, the effect of a rising price must be to reduce the quantity demanded by some individuals. Secondly, prices act as signals and guides to firms about what should be produced in the future. Producers aim at profit maximisation. If consumers wish to consume more of a particular commodity then its price will tend to rise. This indicates to firms that more should be produced; at the same time it provides and incentive for more factors of production to move into that line of production. Firms making the good will be earning high profits. They will wish to expand output. To obtain more of the new materials, machinery and workers wanted they will be prepared to offer higher prices and thus more resources will be drawn to this line of production to meet the increase in demand. In the process we see the operation of what to Adam Smith was like and ?invisible hand? by which individuals, following their own self interest. led to pursue the interests of the community. . read more.

    This is a statistical measure that expresses the average price of some group of commodities in some year as a percentage of the average price of the same commodities in some other year. Problems in measuring inflation accurately can arise from the following reasons 1. The choice of the base year: The selection of the base year is a very complicated task. The prices in the chosen base year should be reasonably steady. Periods of severe inflation, deflation or recession should be avoided. 2. The price index is not able to take into account changes in quality: A commodity may not have changed in price but its quality may have fallen. Conversely, a good may be more expensive because it is of a better quality than before. Such changes in quality affect the consumer?s standard of living but cannot be reflected in the price index. 3. Finding a representative group of commodities: In selecting commodities to include in the basket of goods, accurate information on expenditure patterns of households is needed. But there are great difficulties in collecting such data. People are unwilling to disclose their expenditure truthfully. Besides, different income groups do not share the same basket of goods. Even people with the same income do not buy the same commodities in the basket. Thus, the construction of consumer price index involves a lot of guesswork. . read more.

    The above preview is unformatted text

    This student written piece of work is one of many that can be found in our AS and A Level Macroeconomics section.

    Found what you’re looking for?

    Related AS and A Level Macroeconomics essays

    Looking for expert help with your Economics work?



    What Is Economics? #math #answer


    #economics answers

    #

    What Is Economics?

    By Mike Moffatt. Economics Expert

    Updated October 13, 2015.

    What at first may appear to be a relatively simple and straightforward question is actually one economists have been trying to define in their own terms throughout history. So it should be no surprise that there is no one universally-accepted answer to the question: What is economics?

    Browsing the web, you will find various answers to that very question. Even your economics textbook, the basis for a typical high school or college course, may differ ever so slightly from another in its explanation.

    Continue Reading Below

    But each definition shares some common principles, namely those of choice, resources, and scarcity.

    What is Economics: How Others Define Economics

    The Economist s Dictionary of Economics defines economics as the study of the production, distribution, and consumption of wealth in human society.

    Saint Michael s College answers the question, what is economics? with brevity: most simply put, economics is the study of making choices.

    Indiana University answers the question with a longer, more academic approach stating that economics is a social science that studies human behavior. [it] has a unique method for analyzing and predicting individual behavior as well as the effects of institutions such as firms and governments, or clubs and religions.

    What Is Economics: How I Define Economics

    As an economics professor and About.com economics expert, if I were asked to provide an answer to that same question I would likely share something along the lines of the following:

    Economics is the study of how individuals and groups make decisions with limited resources as to best satisfy their wants, needs, and desires.

    From this standpoint, economics is very much the study of choices. Though many are lead to believe that economics is driven purely by money or capital, in reality, it is much more expansive.

    Continue Reading Below

    If the study of economics is the study of how people choose to use their resources, we must consider all of their possible resources, of which money is but one. In practice, resources can encompass everything from time to knowledge and property to tools. Because of this, economics helps illustrate how people interact within the market to realize their diverse goals.

    Beyond defining what these resources are, we must also consider the concept of scarcity. These resources, no matter how broad the category, are limited. This is the source of tension in the choices people and society make. Their decisions are a result of the constant tug of war between unlimited wants and desires and limited resources.

    From this basic understanding of what economics is, we can break down the study of economics into two broad categories: microeconomics and macroeconomics.

    What is Microeconomics?

    In the article What is Microeconomics. we see that microeconomics deals with economic decisions made at a low or micro level. Microeconomics looks at questions that relate to individual people or firms within the economy and analyzing aspects of human behavior. This includes raising and answering questions like, how does the change of a price of good influence a family s purchasing decisions? Or at a more individual level, how a person may ask him or herself, if my wages rise, will I be inclined to work more hours or less hours?

    What is Macroeconomics?

    In contrast to microeconomics, macroeconomics considers similar questions but at a larger level. The study of macroeconomics deals with the sum total of the decisions made by individuals in a society or nation such as how does a change in interest rates influence national savings? It looks the way nations allocate its resources like labor, land, and capital. More information can be found in the article, What is Macroeconomics .

    Where to Go From Here?

    Now you know what economics is, it is time to expand your knowledge of the subject. Here are 6 more entry-level FAQs and answers to get you started:



    Economics: Practice Questions with Answers for Papers 1 and 2 HL #trivia #answers


    #economics answers

    #

    OSC Study Guides

    Our International Baccalaureate (IB) Economics HL and SL books provide you with a solid outline of every aspect in the Economics Syllabus. The emphasis is on subject knowledge, structure of knowledge and how to answer examination questions.

    The exam is a test of how you use economic theories and concepts to solve economic questions and problems. With plenty of diagrams and IBDP-type questions, these books help you to successfully tackle the questions to help maximise your exam mark.

    Economics HL

    This revision guide covers the new IB Diploma Economics Higher Level course (first examination in May 2013). It contains up-to-date content and graphs as well as examination details, questions and advice that will enable students to revise and prepare for their final examinations in a structured and well-focused manner.

    About the Author

    Stephen is an experienced economics teacher and has been teaching the IB for twelve years. He is currently head of Economics, Politics and Business Studies at Malvern College, Worcestershire, England.

    This revision guide covers the new IB Diploma Economics Standard Level course (first examination in May 2013). It contains up-to-date content and graphs as well as examination details, questions and advice that will enable students to revise and prepare for their final examinations in a structured and well-focused manner.

    About the Author

    Stephen is an experienced economics teacher and has been teaching the IB for twelve years. He is currently head of Economics, Politics and Business Studies at Malvern College, Worcestershire, England.

    Numerical questions will be a compulsory part of the higher level Economics exam under the new syllabus for the first examinations in May 2013. Our Economics: Paper 3 Numerical Questions HL guide has been written to help you prepare for these exams, with a series of likely questions taken from parts of the higher level syllabus. These questions aim to test your ability to make calculations through the application of basic mathematical principles consistent with higher level economic data.

    The guide is divided into two parts; the first containing a variety of short questions in order to familiarise the reader with the type of skills and techniques necessary for the exam. The second has two complete tests with detailed answers and explanations.

    About the Author

    George has taught IB Economics since 1992 and has considerable experience as an examiner. As an experienced IB teacher George is used to helping students achieve their best in the examinations and is fully in touch with current exam requirements.

    The new syllabus of the IB Economics Diploma course, for first examination in May 2013, has introduced several changes to the structure of the internal assessment component. The number of commentaries has been reduced from four to three and the criteria for assessment have been changed. This book identifies all the changes and provides detailed guidance on how to prepare for and complete the portfolio of commentaries that make up the internal assessment requirement.

    There are seven sample commentaries together with the articles that they refer to and each section of the syllabus is covered.

    About the Author

    George has taught IB Economics since 1992 and has considerable experience as an examiner. As an experienced IB teacher George is used to helping students achieve their best in the examinations and is fully in touch with current exam requirements.



    AP Economics Notes, Outlines, and Essays #answers #to #biology #questions


    #economics answers

    #

    AP Economics

    This course can help prepare students who wish to continue their math or business education after high school, as well as students who wish to perform exceptionally well on the SAT exam. The level of aptitude in this subject will assist students wishing to excel on the SAT and in college courses. Students who wish to take an AP Economics course should have a basic, if not more advanced understanding of mathematic functions. They should also have taken a basic Economics I course to get a solid foundation for their Economics education. Economics can be a particularly tough subject for those with no prior knowledge on the subject, so it’s important to gain as much information as possible before enrolling in the course.

    According to the College Board’s website, AP Economics, both Macroeconomics and Microeconomics courses, are designed to give students a thorough understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the economic systems.

    The AP Economics course is designed to give you a complete understanding of the principles of economics that apply to an economic system as a whole. This course places particular emphasis on the study of national income and price determination, and also develops your familiarity with economic performance measures, economic growth, and international economics.

    The purpose of an AP course in Microeconomics is to provide a complete understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the larger economic system. It places primary emphasis on the nature and functions of product markets, and includes the study of factor markets and of the role of government in promoting greater efficiency and equity in the economy.

    AP Economics is a serious course and includes many course goals. According to the College Board’s website, by the time students take their AP Economics exam (or the SAT exam) they should understand:

    • Basic Economic Concepts- The study of economics requires students to understand that in any economy the existence of limited resources along with unlimited wants results in the need to make choices. Students will become acquainted with the system of wants and need as well as other economic systems that govern our economy.
    • The Nature and Function of Product Markets- The study of the nature and functions of product markets falls into four areas: supply and demand models, consumer choice, production and costs theory of the firm. AP courses will assist students in understanding the flow of money and other goods throughout the market. Students will also be able to understand the short term and long term consequences of economic choices such as price adjustments and unemployment.
    • Factor Markets- Students will apply the concepts of supply and demand to markets for factors such as labor, resources, and property. Students analyze the concept of derived demands as well as how price adjustments affect the allocation of resources across the board.
    • Market Failure and the Role of the Government- An AP Economics course will further a student’s knowledge of the government’s ability to control the economy (and lack thereof). It is important for students to understand the consequences of government intervention in economic choices and what can be done to counteract them if they fail.
    • Students will also learn to utilize study notes, study guides, and various other study techniques in conjunction with AP Economic textbooks such as Economics: Principles in Action and AP Economics. It is important that students realize that Economics courses will typically include a large amount of reading, and failure to keep up with it could result in a failing grade.

    Students considering taking AP Economics or any other AP course should recognize that taking a college course in high school will require both time and energy. Students that choose to excel in these courses will see a huge payoff in their high school GPA as well as in their college exam scores.

    Students that wish to get into the college or university of their choice should seriously consider taking an Advanced Placement course (or several) before graduating from high school. Not only will they look excellent on a student’s high school transcript, they will increase their preparedness for the sometimes high-pressure atmosphere that comes with college. Students that wish to get the most out of their education and excel in college should consider visiting their counselor to discuss taking Advance Placement courses.

    Here you find AP Economics notes for Macroeconomics, 15th Edition textbook by McConnell and Brue. We are working on adding more AP Economics resources like practice quizzes, essays, free response questions, and vocabulary terms.



    A-Level JC Economics Past Year Exam Question Papers & Answers #all #questions #answered


    #economics answers

    #

    Economics Past Year Exam Papers

    Economics Questions Predictions Past Year Exam Papers Model Answers 100% FREE!

    Searching for Economics past year exam papers to learn and model the myriad of answering techniques for both case studies and essays?

    It is one of the most straight forward shortcuts in learning: modelling through previous questions from previous exam papers. While it is sufficient to read and understand the JC Econs concepts, principles and theories on your own, it is not so for exam skills and answering strategies.

    Without the chance to model and the exam techniques on how to apply, analyse and evaluate across all the Economic topics of Micrcoeconomics and Macroeconomics, you won t be able to internalise these higher order thinking exam skills in the shortest time possible.

    Note: We are unable to provide the question papers as SEAB owns the copyrights. Kindly purchase a copy of the past year exam paper and its questions from your local bookstore or school bookshop. The answers are as follows:

    Question predictions Past Year Answers:

    Meaning, to conquer Economics knowledge, exam skills and time management, within the typical time frame of 2 years in junior college (JCs), it is a tall order. You definitely need help.

    On our website at EconomicsTuition.com . feel free to use all the past year exam question papers for your answer modeling needs.

    You can access the following:

    A. Cambridge-UCLES-SEAB GCE A-Level Economics examinations (past year, year by year)

    1. A-Level H2 Economics

    2011 H1 Economics Question Paper
    . 2011 H1 Economics Case Study Answers
    . 2011 H1 Economics Essay Answers

    2010 H1 Economics Question Paper
    . 2010 H1 Economics Case Study Answers
    . 2010 H1 Economics Essay Answers

    2009 H1 Economics Question Paper (Predictions)
    . 2009 H1 Economics Case Study Answers
    . 2009 H1 Economics Essay Answers

    2008 H1 Economics Question Paper (Predictions)
    . 2008 H1 Economics Case Study Answers
    . 2008 H1 Economics Essay Answers

    2007 H1 Economics Question Paper (Predictions)
    . 2007 H1 Economics Case Study Answers
    . 2007 H1 Economics Essay Answers

    B. Junior College (JC) GCE A-Level Economics examinations (past year, year by year)

    Due to the immense number of JC Economics Prelim Exam papers, we are unable to produce the whole set on our Econs website. For now, we can only provide a sample set for your use. All Econs students in our JC H2 Economics tuition class will receive a set.

    2015 H2 JC Economics Question Paper (Exam Predictions, as of 9th July 2015)

    2014 H2 JC Economics Question Paper (Exam Predictions, as of 15th July 2014)
    . 2014 H2 JC Economics Case Study Answers
    . 2014 H2 JC Economics Essay Answers

    2013 H2 JC Economics Question Paper (Exam Predictions, as of 11th August 2013)
    . 2013 H2 JC Economics Case Study Answers
    . 2013 H2 JC Economics Essay Answers

    2012 H2 JC Economics Question Paper (Exam Predictions, as of 1st August 2012)
    . 2012 H2 JC Economics Case Study Answers
    . 2012 H2 JC Economics Essay Answers

    2011 H2 JC Economics Question Paper (Exam Predictions, as of 25th July 2011)
    . 2011 H2 JC Economics Case Study Answers
    . 2011 H2 JC Economics Essay Answers

    Kindly note that we are unable to produce the whole set on our Economics website. For now, we can only provide a small sample set for your use. All Econs pupils in our ongoing and intensive JC H1 Econs tuition lessons actually receive a set each.

    2015 H1 JC Economics Question Paper (Exam Predictions, as of 9th July 2015. TBU)

    2014 H1 JC Economics Question Paper
    . 2014 H1 JC Economics Case Study Answers
    . 2014 H1 JC Economics Essay Answers

    2013 H1 JC Economics Question Paper
    . 2013 H1 JC Economics Case Study Answers
    . 2013 H1 JC Economics Essay Answers

    2012 H1 JC Economics Question Paper
    . 2012 H1 JC Economics Case Study Answers
    . 2012 H1 JC Economics Essay Answers

    2011 H1 JC Economics Question Paper
    . 2011 H1 JC Economics Case Study Answers
    . 2011 H1 JC Economics Essay Answers

    If you require any specific year s answers for past exam paper for Economics, let us know at admin (at) learnitive.com . and we will try to provide the questions here.

    Alternatively, if you have any JC prelim question paper you would like to share with us, email a soft copy to us, and we will provide the complete sample answers for the Economics essays and case studies for that paper.

    All the Best for your JC Promos, Prelims A-Level H1 H2 Econs Examinations this year!

    Meanwhile, Happy Revision!

    Note:
    Adam Smith Learning Centre is not affiliated with, maintained by, or in any way officially connected with the Singapore Examinations Assessment Board (SEAB), Ministry of Education (MOE), Cambridge International Examinations (CIE). or any of its business units.

    October 25th, 2016



    ECONOMICS PAST PAPER QUESTIONS WITH ANSWERS – price elasticity and inflation #division #answers


    #economics answers

    #

    ECONOMICS PAST PAPER QUESTIONS WITH ANSWERS – price elasticity and inflation.

    Extracts from this document.

    ECONOMICS PAST PAPER QUESTIONS WITH ANSWERS. Q1) Discuss whether inflation is necessarily harmful. (12) ANS 1:- Inflation is usually defined as a situation in which there is a persistent increase in the general price level. During inflation, cost of living rises, and hence, the purchasing power or the value of money falls. Usually inflation is an evil to an economy, and hence, reducing inflation is one of the macro-economic aims of every government. However, the effects of inflation depend on its level, whether it is constant or accelerating and whether it is anticipated or unanticipated. There are lots of economic costs associated with inflation:- 1. Shoe-leather costs: High rates of inflation mean that people and companies may lose considerable purchasing power if they keep money lying idle and not earning interest. Inflation erodes the value of cash and therefore, firms and households prefer to hold less cash but more interest bearing deposits / assets. Shoe leather costs are the costs involved in moving money from one financial asset to another in search of the highest rate of interest. 2. Menus costs: Firms will also suffer from menu costs. . read more.

    Those unable to pay a higher prices will be eliminated from the market. Price rations scarce goods to those who can afford to pay the price. Hence, for price to act as a rationing mechanism, the effect of a rising price must be to reduce the quantity demanded by some individuals. Secondly, prices act as signals and guides to firms about what should be produced in the future. Producers aim at profit maximisation. If consumers wish to consume more of a particular commodity then its price will tend to rise. This indicates to firms that more should be produced; at the same time it provides and incentive for more factors of production to move into that line of production. Firms making the good will be earning high profits. They will wish to expand output. To obtain more of the new materials, machinery and workers wanted they will be prepared to offer higher prices and thus more resources will be drawn to this line of production to meet the increase in demand. In the process we see the operation of what to Adam Smith was like and ?invisible hand? by which individuals, following their own self interest. led to pursue the interests of the community. . read more.

    This is a statistical measure that expresses the average price of some group of commodities in some year as a percentage of the average price of the same commodities in some other year. Problems in measuring inflation accurately can arise from the following reasons 1. The choice of the base year: The selection of the base year is a very complicated task. The prices in the chosen base year should be reasonably steady. Periods of severe inflation, deflation or recession should be avoided. 2. The price index is not able to take into account changes in quality: A commodity may not have changed in price but its quality may have fallen. Conversely, a good may be more expensive because it is of a better quality than before. Such changes in quality affect the consumer?s standard of living but cannot be reflected in the price index. 3. Finding a representative group of commodities: In selecting commodities to include in the basket of goods, accurate information on expenditure patterns of households is needed. But there are great difficulties in collecting such data. People are unwilling to disclose their expenditure truthfully. Besides, different income groups do not share the same basket of goods. Even people with the same income do not buy the same commodities in the basket. Thus, the construction of consumer price index involves a lot of guesswork. . read more.

    The above preview is unformatted text

    This student written piece of work is one of many that can be found in our AS and A Level Macroeconomics section.

    Found what you’re looking for?

    Related AS and A Level Macroeconomics essays

    Looking for expert help with your Economics work?



    Economics answers #answer #motocross #boots


    #economics answers

    #

    Economics

    Get Connect Economics. Get Results.

    Connect Economics is a proven tool to help students earn better grades and instructors optimize their time and energy. Instructors can easily create assignments correlated to learning objectives and Bloom’s Taxonomy. Students receive immediate, detailed feedback on their work, allowing them to focus on areas where they need improvement.

    Features

    LearnSmart

    LearnSmart is an adaptive study tool proven to strengthen memory recall, increase class retention, and boost grades. Students are able to study more efficiently because they are made aware of what they know and don’t know. Real-time reports quickly identify the concepts that require more attention from individual students—or the entire class.

    Video Cases

    Two-part video segments featuring real business examples and auto-graded, integrated concept checks help students apply economic concepts to the world around them.

    Logic Cases

    Auto-graded, multi-part “capstone” exercises available for each chapter designed to help students see connections between key topics in the chapter and think critically about economics.

    Case Study

    Professor Sam Mirmirani needed to free up the considerable amount of time he was spending grading homework exercises and reviewing assignments. He also wanted his students to take on more responsibility for completing homework, while providing them with a resource to review for exams rather than take up valuable class time for review prior to the midterm and final. By implementing Connect Economics, Professor Mirmirani has shaved his grading time from 10 hours per week to one hour per week, and his students have ample review opportunities to prepare for exams on their own. Now, Mirmirani reports, he sees far less traffic during his office hours and when students do come to his office, they know exactly what they need help with based on the feedback they receive from Connect.

    Community Peer Training

    Digital Faculty Consultants

    A network of passionate educators, dedicated to advancing student learning through educational technologies, resources, and collaboration opportunities.

    Deb Thorsen

    DFC for Economics

    Palm Beach State College Eissey Campus

    Jeffrey Forrest

    DFC for Economics

    Saint Louis Community College – Meramec – Kirkwood

    Ludmila Leontyeva

    DFC for Economics



    AP Economics Notes, Outlines, and Essays #job #interview #answers


    #economics answers

    #

    AP Economics

    This course can help prepare students who wish to continue their math or business education after high school, as well as students who wish to perform exceptionally well on the SAT exam. The level of aptitude in this subject will assist students wishing to excel on the SAT and in college courses. Students who wish to take an AP Economics course should have a basic, if not more advanced understanding of mathematic functions. They should also have taken a basic Economics I course to get a solid foundation for their Economics education. Economics can be a particularly tough subject for those with no prior knowledge on the subject, so it’s important to gain as much information as possible before enrolling in the course.

    According to the College Board’s website, AP Economics, both Macroeconomics and Microeconomics courses, are designed to give students a thorough understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the economic systems.

    The AP Economics course is designed to give you a complete understanding of the principles of economics that apply to an economic system as a whole. This course places particular emphasis on the study of national income and price determination, and also develops your familiarity with economic performance measures, economic growth, and international economics.

    The purpose of an AP course in Microeconomics is to provide a complete understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the larger economic system. It places primary emphasis on the nature and functions of product markets, and includes the study of factor markets and of the role of government in promoting greater efficiency and equity in the economy.

    AP Economics is a serious course and includes many course goals. According to the College Board’s website, by the time students take their AP Economics exam (or the SAT exam) they should understand:

    • Basic Economic Concepts- The study of economics requires students to understand that in any economy the existence of limited resources along with unlimited wants results in the need to make choices. Students will become acquainted with the system of wants and need as well as other economic systems that govern our economy.
    • The Nature and Function of Product Markets- The study of the nature and functions of product markets falls into four areas: supply and demand models, consumer choice, production and costs theory of the firm. AP courses will assist students in understanding the flow of money and other goods throughout the market. Students will also be able to understand the short term and long term consequences of economic choices such as price adjustments and unemployment.
    • Factor Markets- Students will apply the concepts of supply and demand to markets for factors such as labor, resources, and property. Students analyze the concept of derived demands as well as how price adjustments affect the allocation of resources across the board.
    • Market Failure and the Role of the Government- An AP Economics course will further a student’s knowledge of the government’s ability to control the economy (and lack thereof). It is important for students to understand the consequences of government intervention in economic choices and what can be done to counteract them if they fail.
    • Students will also learn to utilize study notes, study guides, and various other study techniques in conjunction with AP Economic textbooks such as Economics: Principles in Action and AP Economics. It is important that students realize that Economics courses will typically include a large amount of reading, and failure to keep up with it could result in a failing grade.

    Students considering taking AP Economics or any other AP course should recognize that taking a college course in high school will require both time and energy. Students that choose to excel in these courses will see a huge payoff in their high school GPA as well as in their college exam scores.

    Students that wish to get into the college or university of their choice should seriously consider taking an Advanced Placement course (or several) before graduating from high school. Not only will they look excellent on a student’s high school transcript, they will increase their preparedness for the sometimes high-pressure atmosphere that comes with college. Students that wish to get the most out of their education and excel in college should consider visiting their counselor to discuss taking Advance Placement courses.

    Here you find AP Economics notes for Macroeconomics, 15th Edition textbook by McConnell and Brue. We are working on adding more AP Economics resources like practice quizzes, essays, free response questions, and vocabulary terms.



    What Is Economics? #science #questions #and #answers


    #economics answers

    #

    What Is Economics?

    By Mike Moffatt. Economics Expert

    Updated October 13, 2015.

    What at first may appear to be a relatively simple and straightforward question is actually one economists have been trying to define in their own terms throughout history. So it should be no surprise that there is no one universally-accepted answer to the question: What is economics?

    Browsing the web, you will find various answers to that very question. Even your economics textbook, the basis for a typical high school or college course, may differ ever so slightly from another in its explanation.

    Continue Reading Below

    But each definition shares some common principles, namely those of choice, resources, and scarcity.

    What is Economics: How Others Define Economics

    The Economist s Dictionary of Economics defines economics as the study of the production, distribution, and consumption of wealth in human society.

    Saint Michael s College answers the question, what is economics? with brevity: most simply put, economics is the study of making choices.

    Indiana University answers the question with a longer, more academic approach stating that economics is a social science that studies human behavior. [it] has a unique method for analyzing and predicting individual behavior as well as the effects of institutions such as firms and governments, or clubs and religions.

    What Is Economics: How I Define Economics

    As an economics professor and About.com economics expert, if I were asked to provide an answer to that same question I would likely share something along the lines of the following:

    Economics is the study of how individuals and groups make decisions with limited resources as to best satisfy their wants, needs, and desires.

    From this standpoint, economics is very much the study of choices. Though many are lead to believe that economics is driven purely by money or capital, in reality, it is much more expansive.

    Continue Reading Below

    If the study of economics is the study of how people choose to use their resources, we must consider all of their possible resources, of which money is but one. In practice, resources can encompass everything from time to knowledge and property to tools. Because of this, economics helps illustrate how people interact within the market to realize their diverse goals.

    Beyond defining what these resources are, we must also consider the concept of scarcity. These resources, no matter how broad the category, are limited. This is the source of tension in the choices people and society make. Their decisions are a result of the constant tug of war between unlimited wants and desires and limited resources.

    From this basic understanding of what economics is, we can break down the study of economics into two broad categories: microeconomics and macroeconomics.

    What is Microeconomics?

    In the article What is Microeconomics. we see that microeconomics deals with economic decisions made at a low or micro level. Microeconomics looks at questions that relate to individual people or firms within the economy and analyzing aspects of human behavior. This includes raising and answering questions like, how does the change of a price of good influence a family s purchasing decisions? Or at a more individual level, how a person may ask him or herself, if my wages rise, will I be inclined to work more hours or less hours?

    What is Macroeconomics?

    In contrast to microeconomics, macroeconomics considers similar questions but at a larger level. The study of macroeconomics deals with the sum total of the decisions made by individuals in a society or nation such as how does a change in interest rates influence national savings? It looks the way nations allocate its resources like labor, land, and capital. More information can be found in the article, What is Macroeconomics .

    Where to Go From Here?

    Now you know what economics is, it is time to expand your knowledge of the subject. Here are 6 more entry-level FAQs and answers to get you started:



    Economics: Practice Questions with Answers for Papers 1 and 2 HL #question #answer #sms


    #economics answers

    #

    OSC Study Guides

    Our International Baccalaureate (IB) Economics HL and SL books provide you with a solid outline of every aspect in the Economics Syllabus. The emphasis is on subject knowledge, structure of knowledge and how to answer examination questions.

    The exam is a test of how you use economic theories and concepts to solve economic questions and problems. With plenty of diagrams and IBDP-type questions, these books help you to successfully tackle the questions to help maximise your exam mark.

    Economics HL

    This revision guide covers the new IB Diploma Economics Higher Level course (first examination in May 2013). It contains up-to-date content and graphs as well as examination details, questions and advice that will enable students to revise and prepare for their final examinations in a structured and well-focused manner.

    About the Author

    Stephen is an experienced economics teacher and has been teaching the IB for twelve years. He is currently head of Economics, Politics and Business Studies at Malvern College, Worcestershire, England.

    This revision guide covers the new IB Diploma Economics Standard Level course (first examination in May 2013). It contains up-to-date content and graphs as well as examination details, questions and advice that will enable students to revise and prepare for their final examinations in a structured and well-focused manner.

    About the Author

    Stephen is an experienced economics teacher and has been teaching the IB for twelve years. He is currently head of Economics, Politics and Business Studies at Malvern College, Worcestershire, England.

    Numerical questions will be a compulsory part of the higher level Economics exam under the new syllabus for the first examinations in May 2013. Our Economics: Paper 3 Numerical Questions HL guide has been written to help you prepare for these exams, with a series of likely questions taken from parts of the higher level syllabus. These questions aim to test your ability to make calculations through the application of basic mathematical principles consistent with higher level economic data.

    The guide is divided into two parts; the first containing a variety of short questions in order to familiarise the reader with the type of skills and techniques necessary for the exam. The second has two complete tests with detailed answers and explanations.

    About the Author

    George has taught IB Economics since 1992 and has considerable experience as an examiner. As an experienced IB teacher George is used to helping students achieve their best in the examinations and is fully in touch with current exam requirements.

    The new syllabus of the IB Economics Diploma course, for first examination in May 2013, has introduced several changes to the structure of the internal assessment component. The number of commentaries has been reduced from four to three and the criteria for assessment have been changed. This book identifies all the changes and provides detailed guidance on how to prepare for and complete the portfolio of commentaries that make up the internal assessment requirement.

    There are seven sample commentaries together with the articles that they refer to and each section of the syllabus is covered.

    About the Author

    George has taught IB Economics since 1992 and has considerable experience as an examiner. As an experienced IB teacher George is used to helping students achieve their best in the examinations and is fully in touch with current exam requirements.



    A-Level JC Economics Past Year Exam Question Papers & Answers #answers #question


    #economics answers

    #

    Economics Past Year Exam Papers

    Economics Questions Predictions Past Year Exam Papers Model Answers 100% FREE!

    Searching for Economics past year exam papers to learn and model the myriad of answering techniques for both case studies and essays?

    It is one of the most straight forward shortcuts in learning: modelling through previous questions from previous exam papers. While it is sufficient to read and understand the JC Econs concepts, principles and theories on your own, it is not so for exam skills and answering strategies.

    Without the chance to model and the exam techniques on how to apply, analyse and evaluate across all the Economic topics of Micrcoeconomics and Macroeconomics, you won t be able to internalise these higher order thinking exam skills in the shortest time possible.

    Note: We are unable to provide the question papers as SEAB owns the copyrights. Kindly purchase a copy of the past year exam paper and its questions from your local bookstore or school bookshop. The answers are as follows:

    Question predictions Past Year Answers:

    Meaning, to conquer Economics knowledge, exam skills and time management, within the typical time frame of 2 years in junior college (JCs), it is a tall order. You definitely need help.

    On our website at EconomicsTuition.com . feel free to use all the past year exam question papers for your answer modeling needs.

    You can access the following:

    A. Cambridge-UCLES-SEAB GCE A-Level Economics examinations (past year, year by year)

    1. A-Level H2 Economics

    2011 H1 Economics Question Paper
    . 2011 H1 Economics Case Study Answers
    . 2011 H1 Economics Essay Answers

    2010 H1 Economics Question Paper
    . 2010 H1 Economics Case Study Answers
    . 2010 H1 Economics Essay Answers

    2009 H1 Economics Question Paper (Predictions)
    . 2009 H1 Economics Case Study Answers
    . 2009 H1 Economics Essay Answers

    2008 H1 Economics Question Paper (Predictions)
    . 2008 H1 Economics Case Study Answers
    . 2008 H1 Economics Essay Answers

    2007 H1 Economics Question Paper (Predictions)
    . 2007 H1 Economics Case Study Answers
    . 2007 H1 Economics Essay Answers

    B. Junior College (JC) GCE A-Level Economics examinations (past year, year by year)

    Due to the immense number of JC Economics Prelim Exam papers, we are unable to produce the whole set on our Econs website. For now, we can only provide a sample set for your use. All Econs students in our JC H2 Economics tuition class will receive a set.

    2015 H2 JC Economics Question Paper (Exam Predictions, as of 9th July 2015)

    2014 H2 JC Economics Question Paper (Exam Predictions, as of 15th July 2014)
    . 2014 H2 JC Economics Case Study Answers
    . 2014 H2 JC Economics Essay Answers

    2013 H2 JC Economics Question Paper (Exam Predictions, as of 11th August 2013)
    . 2013 H2 JC Economics Case Study Answers
    . 2013 H2 JC Economics Essay Answers

    2012 H2 JC Economics Question Paper (Exam Predictions, as of 1st August 2012)
    . 2012 H2 JC Economics Case Study Answers
    . 2012 H2 JC Economics Essay Answers

    2011 H2 JC Economics Question Paper (Exam Predictions, as of 25th July 2011)
    . 2011 H2 JC Economics Case Study Answers
    . 2011 H2 JC Economics Essay Answers

    Kindly note that we are unable to produce the whole set on our Economics website. For now, we can only provide a small sample set for your use. All Econs pupils in our ongoing and intensive JC H1 Econs tuition lessons actually receive a set each.

    2015 H1 JC Economics Question Paper (Exam Predictions, as of 9th July 2015. TBU)

    2014 H1 JC Economics Question Paper
    . 2014 H1 JC Economics Case Study Answers
    . 2014 H1 JC Economics Essay Answers

    2013 H1 JC Economics Question Paper
    . 2013 H1 JC Economics Case Study Answers
    . 2013 H1 JC Economics Essay Answers

    2012 H1 JC Economics Question Paper
    . 2012 H1 JC Economics Case Study Answers
    . 2012 H1 JC Economics Essay Answers

    2011 H1 JC Economics Question Paper
    . 2011 H1 JC Economics Case Study Answers
    . 2011 H1 JC Economics Essay Answers

    If you require any specific year s answers for past exam paper for Economics, let us know at admin (at) learnitive.com . and we will try to provide the questions here.

    Alternatively, if you have any JC prelim question paper you would like to share with us, email a soft copy to us, and we will provide the complete sample answers for the Economics essays and case studies for that paper.

    All the Best for your JC Promos, Prelims A-Level H1 H2 Econs Examinations this year!

    Meanwhile, Happy Revision!

    Note:
    Adam Smith Learning Centre is not affiliated with, maintained by, or in any way officially connected with the Singapore Examinations Assessment Board (SEAB), Ministry of Education (MOE), Cambridge International Examinations (CIE). or any of its business units.

    October 25th, 2016



    ECONOMICS PAST PAPER QUESTIONS WITH ANSWERS – price elasticity and inflation #geography #answers


    #economics answers

    #

    ECONOMICS PAST PAPER QUESTIONS WITH ANSWERS – price elasticity and inflation.

    Extracts from this document.

    ECONOMICS PAST PAPER QUESTIONS WITH ANSWERS. Q1) Discuss whether inflation is necessarily harmful. (12) ANS 1:- Inflation is usually defined as a situation in which there is a persistent increase in the general price level. During inflation, cost of living rises, and hence, the purchasing power or the value of money falls. Usually inflation is an evil to an economy, and hence, reducing inflation is one of the macro-economic aims of every government. However, the effects of inflation depend on its level, whether it is constant or accelerating and whether it is anticipated or unanticipated. There are lots of economic costs associated with inflation:- 1. Shoe-leather costs: High rates of inflation mean that people and companies may lose considerable purchasing power if they keep money lying idle and not earning interest. Inflation erodes the value of cash and therefore, firms and households prefer to hold less cash but more interest bearing deposits / assets. Shoe leather costs are the costs involved in moving money from one financial asset to another in search of the highest rate of interest. 2. Menus costs: Firms will also suffer from menu costs. . read more.

    Those unable to pay a higher prices will be eliminated from the market. Price rations scarce goods to those who can afford to pay the price. Hence, for price to act as a rationing mechanism, the effect of a rising price must be to reduce the quantity demanded by some individuals. Secondly, prices act as signals and guides to firms about what should be produced in the future. Producers aim at profit maximisation. If consumers wish to consume more of a particular commodity then its price will tend to rise. This indicates to firms that more should be produced; at the same time it provides and incentive for more factors of production to move into that line of production. Firms making the good will be earning high profits. They will wish to expand output. To obtain more of the new materials, machinery and workers wanted they will be prepared to offer higher prices and thus more resources will be drawn to this line of production to meet the increase in demand. In the process we see the operation of what to Adam Smith was like and ?invisible hand? by which individuals, following their own self interest. led to pursue the interests of the community. . read more.

    This is a statistical measure that expresses the average price of some group of commodities in some year as a percentage of the average price of the same commodities in some other year. Problems in measuring inflation accurately can arise from the following reasons 1. The choice of the base year: The selection of the base year is a very complicated task. The prices in the chosen base year should be reasonably steady. Periods of severe inflation, deflation or recession should be avoided. 2. The price index is not able to take into account changes in quality: A commodity may not have changed in price but its quality may have fallen. Conversely, a good may be more expensive because it is of a better quality than before. Such changes in quality affect the consumer?s standard of living but cannot be reflected in the price index. 3. Finding a representative group of commodities: In selecting commodities to include in the basket of goods, accurate information on expenditure patterns of households is needed. But there are great difficulties in collecting such data. People are unwilling to disclose their expenditure truthfully. Besides, different income groups do not share the same basket of goods. Even people with the same income do not buy the same commodities in the basket. Thus, the construction of consumer price index involves a lot of guesswork. . read more.

    The above preview is unformatted text

    This student written piece of work is one of many that can be found in our AS and A Level Macroeconomics section.

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    Economics answers #math #problem #answers


    #economics answers

    #

    Economics

    Get Connect Economics. Get Results.

    Connect Economics is a proven tool to help students earn better grades and instructors optimize their time and energy. Instructors can easily create assignments correlated to learning objectives and Bloom’s Taxonomy. Students receive immediate, detailed feedback on their work, allowing them to focus on areas where they need improvement.

    Features

    LearnSmart

    LearnSmart is an adaptive study tool proven to strengthen memory recall, increase class retention, and boost grades. Students are able to study more efficiently because they are made aware of what they know and don’t know. Real-time reports quickly identify the concepts that require more attention from individual students—or the entire class.

    Video Cases

    Two-part video segments featuring real business examples and auto-graded, integrated concept checks help students apply economic concepts to the world around them.

    Logic Cases

    Auto-graded, multi-part “capstone” exercises available for each chapter designed to help students see connections between key topics in the chapter and think critically about economics.

    Case Study

    Professor Sam Mirmirani needed to free up the considerable amount of time he was spending grading homework exercises and reviewing assignments. He also wanted his students to take on more responsibility for completing homework, while providing them with a resource to review for exams rather than take up valuable class time for review prior to the midterm and final. By implementing Connect Economics, Professor Mirmirani has shaved his grading time from 10 hours per week to one hour per week, and his students have ample review opportunities to prepare for exams on their own. Now, Mirmirani reports, he sees far less traffic during his office hours and when students do come to his office, they know exactly what they need help with based on the feedback they receive from Connect.

    Community Peer Training

    Digital Faculty Consultants

    A network of passionate educators, dedicated to advancing student learning through educational technologies, resources, and collaboration opportunities.

    Deb Thorsen

    DFC for Economics

    Palm Beach State College Eissey Campus

    Jeffrey Forrest

    DFC for Economics

    Saint Louis Community College – Meramec – Kirkwood

    Ludmila Leontyeva

    DFC for Economics



    Economics: Practice Questions with Answers for Papers 1 and 2 HL #chemistry #answers


    #economics answers

    #

    OSC Study Guides

    Our International Baccalaureate (IB) Economics HL and SL books provide you with a solid outline of every aspect in the Economics Syllabus. The emphasis is on subject knowledge, structure of knowledge and how to answer examination questions.

    The exam is a test of how you use economic theories and concepts to solve economic questions and problems. With plenty of diagrams and IBDP-type questions, these books help you to successfully tackle the questions to help maximise your exam mark.

    Economics HL

    This revision guide covers the new IB Diploma Economics Higher Level course (first examination in May 2013). It contains up-to-date content and graphs as well as examination details, questions and advice that will enable students to revise and prepare for their final examinations in a structured and well-focused manner.

    About the Author

    Stephen is an experienced economics teacher and has been teaching the IB for twelve years. He is currently head of Economics, Politics and Business Studies at Malvern College, Worcestershire, England.

    This revision guide covers the new IB Diploma Economics Standard Level course (first examination in May 2013). It contains up-to-date content and graphs as well as examination details, questions and advice that will enable students to revise and prepare for their final examinations in a structured and well-focused manner.

    About the Author

    Stephen is an experienced economics teacher and has been teaching the IB for twelve years. He is currently head of Economics, Politics and Business Studies at Malvern College, Worcestershire, England.

    Numerical questions will be a compulsory part of the higher level Economics exam under the new syllabus for the first examinations in May 2013. Our Economics: Paper 3 Numerical Questions HL guide has been written to help you prepare for these exams, with a series of likely questions taken from parts of the higher level syllabus. These questions aim to test your ability to make calculations through the application of basic mathematical principles consistent with higher level economic data.

    The guide is divided into two parts; the first containing a variety of short questions in order to familiarise the reader with the type of skills and techniques necessary for the exam. The second has two complete tests with detailed answers and explanations.

    About the Author

    George has taught IB Economics since 1992 and has considerable experience as an examiner. As an experienced IB teacher George is used to helping students achieve their best in the examinations and is fully in touch with current exam requirements.

    The new syllabus of the IB Economics Diploma course, for first examination in May 2013, has introduced several changes to the structure of the internal assessment component. The number of commentaries has been reduced from four to three and the criteria for assessment have been changed. This book identifies all the changes and provides detailed guidance on how to prepare for and complete the portfolio of commentaries that make up the internal assessment requirement.

    There are seven sample commentaries together with the articles that they refer to and each section of the syllabus is covered.

    About the Author

    George has taught IB Economics since 1992 and has considerable experience as an examiner. As an experienced IB teacher George is used to helping students achieve their best in the examinations and is fully in touch with current exam requirements.



    What Is Economics? #math #problem #answers


    #economics answers

    #

    What Is Economics?

    By Mike Moffatt. Economics Expert

    Updated October 13, 2015.

    What at first may appear to be a relatively simple and straightforward question is actually one economists have been trying to define in their own terms throughout history. So it should be no surprise that there is no one universally-accepted answer to the question: What is economics?

    Browsing the web, you will find various answers to that very question. Even your economics textbook, the basis for a typical high school or college course, may differ ever so slightly from another in its explanation.

    Continue Reading Below

    But each definition shares some common principles, namely those of choice, resources, and scarcity.

    What is Economics: How Others Define Economics

    The Economist s Dictionary of Economics defines economics as the study of the production, distribution, and consumption of wealth in human society.

    Saint Michael s College answers the question, what is economics? with brevity: most simply put, economics is the study of making choices.

    Indiana University answers the question with a longer, more academic approach stating that economics is a social science that studies human behavior. [it] has a unique method for analyzing and predicting individual behavior as well as the effects of institutions such as firms and governments, or clubs and religions.

    What Is Economics: How I Define Economics

    As an economics professor and About.com economics expert, if I were asked to provide an answer to that same question I would likely share something along the lines of the following:

    Economics is the study of how individuals and groups make decisions with limited resources as to best satisfy their wants, needs, and desires.

    From this standpoint, economics is very much the study of choices. Though many are lead to believe that economics is driven purely by money or capital, in reality, it is much more expansive.

    Continue Reading Below

    If the study of economics is the study of how people choose to use their resources, we must consider all of their possible resources, of which money is but one. In practice, resources can encompass everything from time to knowledge and property to tools. Because of this, economics helps illustrate how people interact within the market to realize their diverse goals.

    Beyond defining what these resources are, we must also consider the concept of scarcity. These resources, no matter how broad the category, are limited. This is the source of tension in the choices people and society make. Their decisions are a result of the constant tug of war between unlimited wants and desires and limited resources.

    From this basic understanding of what economics is, we can break down the study of economics into two broad categories: microeconomics and macroeconomics.

    What is Microeconomics?

    In the article What is Microeconomics. we see that microeconomics deals with economic decisions made at a low or micro level. Microeconomics looks at questions that relate to individual people or firms within the economy and analyzing aspects of human behavior. This includes raising and answering questions like, how does the change of a price of good influence a family s purchasing decisions? Or at a more individual level, how a person may ask him or herself, if my wages rise, will I be inclined to work more hours or less hours?

    What is Macroeconomics?

    In contrast to microeconomics, macroeconomics considers similar questions but at a larger level. The study of macroeconomics deals with the sum total of the decisions made by individuals in a society or nation such as how does a change in interest rates influence national savings? It looks the way nations allocate its resources like labor, land, and capital. More information can be found in the article, What is Macroeconomics .

    Where to Go From Here?

    Now you know what economics is, it is time to expand your knowledge of the subject. Here are 6 more entry-level FAQs and answers to get you started:



    AP Economics Notes, Outlines, and Essays #algebra #problems #and #answers


    #economics answers

    #

    AP Economics

    This course can help prepare students who wish to continue their math or business education after high school, as well as students who wish to perform exceptionally well on the SAT exam. The level of aptitude in this subject will assist students wishing to excel on the SAT and in college courses. Students who wish to take an AP Economics course should have a basic, if not more advanced understanding of mathematic functions. They should also have taken a basic Economics I course to get a solid foundation for their Economics education. Economics can be a particularly tough subject for those with no prior knowledge on the subject, so it’s important to gain as much information as possible before enrolling in the course.

    According to the College Board’s website, AP Economics, both Macroeconomics and Microeconomics courses, are designed to give students a thorough understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the economic systems.

    The AP Economics course is designed to give you a complete understanding of the principles of economics that apply to an economic system as a whole. This course places particular emphasis on the study of national income and price determination, and also develops your familiarity with economic performance measures, economic growth, and international economics.

    The purpose of an AP course in Microeconomics is to provide a complete understanding of the principles of economics that apply to the functions of individual decision makers, both consumers and producers, within the larger economic system. It places primary emphasis on the nature and functions of product markets, and includes the study of factor markets and of the role of government in promoting greater efficiency and equity in the economy.

    AP Economics is a serious course and includes many course goals. According to the College Board’s website, by the time students take their AP Economics exam (or the SAT exam) they should understand:

    • Basic Economic Concepts- The study of economics requires students to understand that in any economy the existence of limited resources along with unlimited wants results in the need to make choices. Students will become acquainted with the system of wants and need as well as other economic systems that govern our economy.
    • The Nature and Function of Product Markets- The study of the nature and functions of product markets falls into four areas: supply and demand models, consumer choice, production and costs theory of the firm. AP courses will assist students in understanding the flow of money and other goods throughout the market. Students will also be able to understand the short term and long term consequences of economic choices such as price adjustments and unemployment.
    • Factor Markets- Students will apply the concepts of supply and demand to markets for factors such as labor, resources, and property. Students analyze the concept of derived demands as well as how price adjustments affect the allocation of resources across the board.
    • Market Failure and the Role of the Government- An AP Economics course will further a student’s knowledge of the government’s ability to control the economy (and lack thereof). It is important for students to understand the consequences of government intervention in economic choices and what can be done to counteract them if they fail.
    • Students will also learn to utilize study notes, study guides, and various other study techniques in conjunction with AP Economic textbooks such as Economics: Principles in Action and AP Economics. It is important that students realize that Economics courses will typically include a large amount of reading, and failure to keep up with it could result in a failing grade.

    Students considering taking AP Economics or any other AP course should recognize that taking a college course in high school will require both time and energy. Students that choose to excel in these courses will see a huge payoff in their high school GPA as well as in their college exam scores.

    Students that wish to get into the college or university of their choice should seriously consider taking an Advanced Placement course (or several) before graduating from high school. Not only will they look excellent on a student’s high school transcript, they will increase their preparedness for the sometimes high-pressure atmosphere that comes with college. Students that wish to get the most out of their education and excel in college should consider visiting their counselor to discuss taking Advance Placement courses.

    Here you find AP Economics notes for Macroeconomics, 15th Edition textbook by McConnell and Brue. We are working on adding more AP Economics resources like practice quizzes, essays, free response questions, and vocabulary terms.



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    A-Level JC Economics Past Year Exam Question Papers & Answers #catholic #answers #forum


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    Economics Past Year Exam Papers

    Economics Questions Predictions Past Year Exam Papers Model Answers 100% FREE!

    Searching for Economics past year exam papers to learn and model the myriad of answering techniques for both case studies and essays?

    It is one of the most straight forward shortcuts in learning: modelling through previous questions from previous exam papers. While it is sufficient to read and understand the JC Econs concepts, principles and theories on your own, it is not so for exam skills and answering strategies.

    Without the chance to model and the exam techniques on how to apply, analyse and evaluate across all the Economic topics of Micrcoeconomics and Macroeconomics, you won t be able to internalise these higher order thinking exam skills in the shortest time possible.

    Note: We are unable to provide the question papers as SEAB owns the copyrights. Kindly purchase a copy of the past year exam paper and its questions from your local bookstore or school bookshop. The answers are as follows:

    Question predictions Past Year Answers:

    Meaning, to conquer Economics knowledge, exam skills and time management, within the typical time frame of 2 years in junior college (JCs), it is a tall order. You definitely need help.

    On our website at EconomicsTuition.com . feel free to use all the past year exam question papers for your answer modeling needs.

    You can access the following:

    A. Cambridge-UCLES-SEAB GCE A-Level Economics examinations (past year, year by year)

    1. A-Level H2 Economics

    2011 H1 Economics Question Paper
    . 2011 H1 Economics Case Study Answers
    . 2011 H1 Economics Essay Answers

    2010 H1 Economics Question Paper
    . 2010 H1 Economics Case Study Answers
    . 2010 H1 Economics Essay Answers

    2009 H1 Economics Question Paper (Predictions)
    . 2009 H1 Economics Case Study Answers
    . 2009 H1 Economics Essay Answers

    2008 H1 Economics Question Paper (Predictions)
    . 2008 H1 Economics Case Study Answers
    . 2008 H1 Economics Essay Answers

    2007 H1 Economics Question Paper (Predictions)
    . 2007 H1 Economics Case Study Answers
    . 2007 H1 Economics Essay Answers

    B. Junior College (JC) GCE A-Level Economics examinations (past year, year by year)

    Due to the immense number of JC Economics Prelim Exam papers, we are unable to produce the whole set on our Econs website. For now, we can only provide a sample set for your use. All Econs students in our JC H2 Economics tuition class will receive a set.

    2015 H2 JC Economics Question Paper (Exam Predictions, as of 9th July 2015)

    2014 H2 JC Economics Question Paper (Exam Predictions, as of 15th July 2014)
    . 2014 H2 JC Economics Case Study Answers
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    2013 H2 JC Economics Question Paper (Exam Predictions, as of 11th August 2013)
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    . 2013 H2 JC Economics Essay Answers

    2012 H2 JC Economics Question Paper (Exam Predictions, as of 1st August 2012)
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    . 2012 H2 JC Economics Essay Answers

    2011 H2 JC Economics Question Paper (Exam Predictions, as of 25th July 2011)
    . 2011 H2 JC Economics Case Study Answers
    . 2011 H2 JC Economics Essay Answers

    Kindly note that we are unable to produce the whole set on our Economics website. For now, we can only provide a small sample set for your use. All Econs pupils in our ongoing and intensive JC H1 Econs tuition lessons actually receive a set each.

    2015 H1 JC Economics Question Paper (Exam Predictions, as of 9th July 2015. TBU)

    2014 H1 JC Economics Question Paper
    . 2014 H1 JC Economics Case Study Answers
    . 2014 H1 JC Economics Essay Answers

    2013 H1 JC Economics Question Paper
    . 2013 H1 JC Economics Case Study Answers
    . 2013 H1 JC Economics Essay Answers

    2012 H1 JC Economics Question Paper
    . 2012 H1 JC Economics Case Study Answers
    . 2012 H1 JC Economics Essay Answers

    2011 H1 JC Economics Question Paper
    . 2011 H1 JC Economics Case Study Answers
    . 2011 H1 JC Economics Essay Answers

    If you require any specific year s answers for past exam paper for Economics, let us know at admin (at) learnitive.com . and we will try to provide the questions here.

    Alternatively, if you have any JC prelim question paper you would like to share with us, email a soft copy to us, and we will provide the complete sample answers for the Economics essays and case studies for that paper.

    All the Best for your JC Promos, Prelims A-Level H1 H2 Econs Examinations this year!

    Meanwhile, Happy Revision!

    Note:
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    October 25th, 2016



    ECONOMICS PAST PAPER QUESTIONS WITH ANSWERS – price elasticity and inflation #get #answers #to #questions


    #economics answers

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    ECONOMICS PAST PAPER QUESTIONS WITH ANSWERS – price elasticity and inflation.

    Extracts from this document.

    ?ECONOMICS PAST PAPER QUESTIONS WITH ANSWERS. Q1) Discuss whether inflation is necessarily harmful. (12) ANS 1:- Inflation is usually defined as a situation in which there is a persistent increase in the general price level. During inflation, cost of living rises, and hence, the purchasing power or the value of money falls. Usually inflation is an evil to an economy, and hence, reducing inflation is one of the macro-economic aims of every government. However, the effects of inflation depend on its level, whether it is constant or accelerating and whether it is anticipated or unanticipated. There are lots of economic costs associated with inflation:- 1. Shoe-leather costs: High rates of inflation mean that people and companies may lose considerable purchasing power if they keep money lying idle and not earning interest. Inflation erodes the value of cash and therefore, firms and households prefer to hold less cash but more interest bearing deposits / assets. Shoe leather costs are the costs involved in moving money from one financial asset to another in search of the highest rate of interest. 2. Menus costs: Firms will also suffer from menu costs. . read more.

    Those unable to pay a higher prices will be eliminated from the market. Price rations scarce goods to those who can afford to pay the price. Hence, for price to act as a rationing mechanism, the effect of a rising price must be to reduce the quantity demanded by some individuals. Secondly, prices act as signals and guides to firms about what should be produced in the future. Producers aim at profit maximisation. If consumers wish to consume more of a particular commodity then its price will tend to rise. This indicates to firms that more should be produced; at the same time it provides and incentive for more factors of production to move into that line of production. Firms making the good will be earning high profits. They will wish to expand output. To obtain more of the new materials, machinery and workers wanted they will be prepared to offer higher prices and thus more resources will be drawn to this line of production to meet the increase in demand. In the process we see the operation of what to Adam Smith was like and ?invisible hand? by which individuals, following their own self interest. led to pursue the interests of the community. . read more.

    This is a statistical measure that expresses the average price of some group of commodities in some year as a percentage of the average price of the same commodities in some other year. Problems in measuring inflation accurately can arise from the following reasons 1. The choice of the base year: The selection of the base year is a very complicated task. The prices in the chosen base year should be reasonably steady. Periods of severe inflation, deflation or recession should be avoided. 2. The price index is not able to take into account changes in quality: A commodity may not have changed in price but its quality may have fallen. Conversely, a good may be more expensive because it is of a better quality than before. Such changes in quality affect the consumer?s standard of living but cannot be reflected in the price index. 3. Finding a representative group of commodities: In selecting commodities to include in the basket of goods, accurate information on expenditure patterns of households is needed. But there are great difficulties in collecting such data. People are unwilling to disclose their expenditure truthfully. Besides, different income groups do not share the same basket of goods. Even people with the same income do not buy the same commodities in the basket. Thus, the construction of consumer price index involves a lot of guesswork. . read more.

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