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    Thank you so much! I understand it a lot better now and I have listed 10 things and completed the second question.

    Just wondering though, would the ingredients that I had listed (flour, milk, eggs, etc.) count as capital or land? Do they count as 'naturally occurring? Or as something 'man-made'? Does capital only mean things like machinery and exclude things like food, since eggs are farmed from chickens so I guess they could be classed as 'man-made'.

    Sorry for asking so many questions!
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    This is a question on a sheet for my homework
    Explain what a trend output diagram shows.

    please help
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    i've got a question.
    How Recession and unemployment are related to each other?
    Whats the first stage of recession which causes unemployment except financial crisis?
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    Hi guys, I got confused and hope that someone can clarify the situation. So, the priciple of demand is when the price increases the demand decreases and when the price decreases the demand increases. Now if I look at the principle of supply which is said to be, when the price increases the quantities offered increase too and when the price decreases, quantities offered decrease too. Why would that happen if the demand actually goes up if there is a price drop?
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    (Original post by RonnieRR)
    This is a question on a sheet for my homework
    Explain what a trend output diagram shows.

    please help

    Trend rate of growth, Actual rate of growth. Positve output gap, Negative output gap. Recovery, downturn, Boom, recession.
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    (Original post by ReyUcB)
    Hi guys, I got confused and hope that someone can clarify the situation. So, the priciple of demand is when the price increases the demand decreases and when the price decreases the demand increases. Now if I look at the principle of supply which is said to be, when the price increases the quantities offered increase too and when the price decreases, quantities offered decrease too. Why would that happen if the demand actually goes up if there is a price drop?
    As the price of the good decreases, firms are less inclined to produce it due to lower profits to be made. Assuming firms are profit motivated, as a good decreases in price less firms would want to supply. Whereas demand increases as more people are both willing and able to purchase the good, leading to a shortage in theory.
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    (Original post by Aleemaher)
    i've got a question.
    How Recession and unemployment are related to each other?
    Whats the first stage of recession which causes unemployment except financial crisis?
    In a recession there's cyclical unemployment. As there's overall a decrease in consumer confidence, consumer spending and decreased consumption in an economy. AD falls theoretically, and so there's a decrease in National Output. Businesses are less likely to employ new people, and may make redundant those already employed as their is no need for them, if there's a fall in Aggregate demand.
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    Consider the following production possibilities table:



























    Option
    Y
    X
    A
    0
    100
    B
    80
    80
    C
    120
    50
    D
    140
    10


    a)Provide a measure of the approximate marginal opportunity cost of an additional unit of X for each interval. Is the law of increasing cost satisfied? Explain. (6 points)


    b) Is the production of 100 units of X and 85 units of Y feasible? Why or why not? If so, is it efficient? (2 points)

    C)Is the production of 80 units of X and 75 units of Y feasible? Why or why not? If so, is it efficient? (2 points)
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    I am confused and need some help! T T
    Does an increase or a decrease of unemployment can shifts the ppf to right or left?
    What I means does the unemployment can influence the ppf ? what can make ppf shift?
    Is there anybody can teach me clearly?
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    (Original post by Winnie576)
    I am confused and need some help! T T
    Does an increase or a decrease of unemployment can shifts the ppf to right or left?
    What I means does the unemployment can influence the ppf ? what can make ppf shift?
    Is there anybody can teach me clearly?
    PPF stands for the Production possibility Frontier, this is the Maximum level of output the economy can produce. Unemployment just means to say that the economy isn't producing at it's maximum point, it won't shift the PPF, but unemployment is shown inside the PPF as not all factor's of production are being utilised to their full extent.

    Shifts in the PPF are the same as shifts with the LRAS (they are essentially the same thing), Increased Investement can potentially increase productivity, so the potential output that the economy is able to produce is increased. Factors affecting a outward shift include Advanced technology or better education and training.

    Hope this answer's your question
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    Any help appreciated:

    Discuss whether closing down the BBC and selling its right to air waves to commercial broadcasters would result in market failure.


    Any help is appreciated - just looking for some reasons why and why not it would be market failure.

    Thank you in advance
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    This thread is beautiful, only just found out about it! So many answers to give, so little time :P


    Posted from TSR Mobile
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    Can anyone help me with a mathsy economics questions?

    A firm's total revenue function is given by:
    TR=20Q-Q^2

    and its total cost function is given by:
    TC=Q^3-8Q^2+20Q+2

    where Q is greater than or equal to 0 represents output.

    (i) Write down an expression for the firm's profit in terms of Q.

    Surely its not as simple as: Pi(Q) = 20Q-Q^2 - Q^3-8Q^2+20Q+2

    Thanks in advance for your help
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    Can someone help me to answer this question?


    ECONOMICS UNIT 2 Edexcel

    "Why do the negative and positive ouput gap never last forever?"
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    Can someone help me on this question:
    2 Which one of the following is most likely to discourage the growth of a firm? The existence of
    A diseconomies of scale at low levels of output
    B marketing economies of scale at high levels of output
    C large economies of scale at low levels of output
    D competing firms in the same industry

    The answer is A, but i thought that diseconomies of scale only occurred at high levels of output?
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    (Original post by sr234)
    Can someone help me on this question:
    2 Which one of the following is most likely to discourage the growth of a firm? The existence of
    A diseconomies of scale at low levels of output
    B marketing economies of scale at high levels of output
    C large economies of scale at low levels of output
    D competing firms in the same industry

    The answer is A, but i thought that diseconomies of scale only occurred at high levels of output?
    Yeah, depends different firms experience dis-economies of scale at different periods. The answer must be A as if a firm starts experiencing short-run dis-economies of scale whilst attempting to expand its business it's not worth the business expanding. For instance, an ice-cream truck business may not hire extra workers as it will eventually decrease the overall productivity as one of the factors of production stay fixed (in this case capital). The ice cream truck is too small to hire extra workers (for instance 10 extra units of labour) and short-run dis-economies of scale will occur.
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    (Original post by Abdul-Karim)
    Yeah, depends different firms experience dis-economies of scale at different periods. The answer must be A as if a firm starts experiencing short-run dis-economies of scale whilst attempting to expand its business it's not worth the business expanding. For instance, an ice-cream truck business may not hire extra workers as it will eventually decrease the overall productivity as one of the factors of production stay fixed (in this case capital). The ice cream truck is too small to hire extra workers (for instance 10 extra units of labour) and short-run dis-economies of scale will occur.
    Thank you I understand the question alot better now!

    Posted from TSR Mobile
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    Hi What are the advantages of using money from the view of economics?
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    (Original post by kokcc95)
    Hi What are the advantages of using money from the view of economics?
    The advantages of using cash as a form of payment are as follows :

    1 ) Cash is the most common way of payment around the globe when compared to all other types of payment. As cash does not involve third-party action for its immediate conversion into other forms value.

    2 ) Cash requires no authorization for the person who carries it, thus it is convenient for those who desires small payment amounts to be used.

    3 ) The use of cash does not involve any transaction fees for both ends, that is, the person who uses cash and the merchant does not have to worry about paying any fees when buying and selling goods and services.

    4 ) Cash is 'easy-to-carry' form of payment, neither ends are required to special hardware to complete a transaction.

    5 ) Cash payment does not require additional knowledge when a transaction occurs, whereas credit card payment may need the users to be taught before hand in order to properly use it.
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    Question: What is the likely effect on the volume of exports and imports if a country on a FIXED EXCHANGE RATE experiences a higher rate of inflation than its trading partners?

    Ans is exports decrease import increase

    My question is...
    high inflation rate= exchange rate appreciates --> exports decrease, import increase
    but then it's fixed exchange rate system, whenever there is appreciation/ depreciation of exchange rate, the bank authorities will adjust the exchange rate back to the rate. so there should be no changes in exports and imports..
    someone please clear my confuse
 
 
 
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