Economics: Post your doubts here (O + A level)

[Jane Voon]

What would reduce an economy’s protection against the import of cars?
A a lower exchange rate
B a higher quota of imported cars
C a higher tariff on imported cars
D a higher subsidy for domestic car producers
hi can you please explain me why ans is B please

 

[Jane Voon]

hey can someone tell me how an increase in interest rates causes an increase in the opportunity cost of current consumption to the consumer? please i dont understand

 

[Jane Voon]

Here is your complete answer:

You use the formula for Elasticity

PEoD = (% Change in Quantity Demanded)/(% Change in Price)

PEoD= 1 *-1* because you always took the abs value when you talk about Elasticity

% Change in quantity demanded = 4000-20000/20000 = 16000/20000 = 8/10 = 0.8
% in price change X-12$/12$

So -1 = 0.8/ ((X-12)/12)
-(X-12)/12=0.8
-(X-12)=9.6
X-12 = -9.6
X = 2.4

Hope it will help you

i was actually looking for this answer very helpful thanks

 

[Jane Voon]

hi i have some problems with these questions can you explain me why so

may/june 2006 p1 eco

Qu: 17 why ans is C

Qu:19 why is ans A

Qu:20 why is ans A

qu:22 why is ans D

qu:24 why ans D i thought it was A

qu 27 ans d

qu 29 ans d

Really need help thanks

 

[Jane Voon]

i need help for ECO oct nov 2005 p1

Qu 25 why is answer B please

Qu 26 why is ans D

Qu 28 why is ans C

Qu 30 why is ans C

Really need help please!!!!

 

[Ajmal24]

I teach economics, If anyone of you has any problem in this subject, you can ask here. I will be more than happy to help.

A level economics Nov 2009 P3 no 20 could u please explain how to do it

 

[yuvraj uppadoo]

First of all, you must give the definition of the topic given. Then u must give examples depending upon the context given. You can give the pros and cons about the given situation. Analyse the situation depending how deep is your kowledege and then u must give a conclusion of how to end the matter.

 

[Alevel Economics]

I teach economics, If anyone of you has any problem in this subject, you can ask here. I will be more than happy to help.

Ok

 

[TheStallion-Reborn]

I have completed my o'levels and haven't started A'levels yet. I did my o'levels with science subjects, I was wondering if it's possible for me to have business subjects in a'levels? I mean, it's theoretically possible but I fear it being too hard for me as I don't even know the basics of economics, accounting etc... Am I being paranoid?

 

[hussey96]

can anyone tell me some good resources for economics....!!!

 

[hussey96]

can anyone tell me some good resources for economics....!!!

 

[helllooo]

what do u mean by barriers to entry?

 

[panoramafolks]

what do u mean by barriers to entry?

Barriers to entry are the artificial obstacles placed by the country to restrict the import of goods and services such as:

i) Protect a specific group like farmers
ii) Avoid dumping
iii) protect the infant industries
iv) protect employment
v) reduce a trade defeciet in BOP

There are many types of Barrirs to trade:

1. Tarriff: A tax usuall a percentage or per unit amount on import of goods and services.
2.Quota : A limit on specific amount of goods to be imported.
3. Embargo : Complete ban on import of goods and services from a specific country.
4. Subsidy: Granted to domestic producers to make their exported good cheap and make it cheap where imported so the demand for imported goods will reduce.

WHY not to use the barriers to trade:

i) Infant industries might be inefficient
ii) less choice
iii) domestic good might be expensive
and many more!

 

[Lostsoul]

Urgent help:
Question 6 of http://papers.xtremepapers.com/CIE/... AS Level/Economics (9708)/9708_w12_qp_31.pdf

 

[daw1996]

Can both A level and O level economics both be taken at the same time?

 

[@yeshaB]

I teach economics, If anyone of you has any problem in this subject, you can ask here. I will be more than happy to help.

Yaay! all I need to know is how much should I write for 4,6,8 and 10 number question? (O'Levels)

 

[@yeshaB]

One more thing asadmehmood Sir how should I practice for Economics paper 1 - olevels

 

[rjcooo1]

Barriers to entry are the artificial obstacles placed by the country to restrict the import of goods and services such as:

i) Protect a specific group like farmers
ii) Avoid dumping
iii) protect the infant industries
iv) protect employment
v) reduce a trade defeciet in BOP

There are many types of Barrirs to trade:

1. Tarriff: A tax usuall a percentage or per unit amount on import of goods and services.
2.Quota : A limit on specific amount of goods to be imported.
3. Embargo : Complete ban on import of goods and services from a specific country.
4. Subsidy: Granted to domestic producers to make their exported good cheap and make it cheap where imported so the demand for imported goods will reduce.

WHY not to use the barriers to trade:

i) Infant industries might be inefficient
ii) less choice
iii) domestic good might be expensive
and many more!

This depends on what type of question it is.. If it is related to Monopolies and the spectrum of competition, then barriers to entry act as obstacles to firms to enter a market which gives existing businesses a degree of market power (no risk from an entry of a new firm). Examples include;

- State owned firms for example electricity, this type of industry doesnt allow new firms into the market because the good is state produces. In this case the electricity firm is known as a natural monopoly.

- High fixed costs may deter potential entrants.

- Firms shutting down will also incur costs. Exiting the market also a risk that firms consider therefore if their factors of production are not transferable then these act as a barrier of exit from the industry. Investments especially capital will be lost and create an exceptionally high cost for the firm.

Please correct me if I'm wrong as I am also currently studying this topic in school.
Thanks

 

[rjcooo1]

Urgent help:
Question 6 of http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Economics (9708)/9708_w12_qp_31.pdf

Hello!

Well I tried figuring it out.

The TC for the firm before hiring the next worker is 30*50 = 1500

If you added the extra worker the TC would result to 1500 + 112 (additional worker cost) = 1612

The 1612 would be divided by the total number of workers after which is 31 thus 1612/ 31 = 52

This is the increase in labour wage rate. To calculate the percentage 52 - 50 / 50 * 100 = 4% or (52 / 50 * 100) - 100 = 4 %

Hope this helps

 

[bloom princeton]

anyone got their statement of entries ?