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A Level Economics:
- Thread starter Qamar Baloch
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Yes dear students. I would like to discuss the first topic of AS level Economics which includes Basic economic concept of scarcity, language of economics, opportunity cost and PPC. Come if you need to discuss things.
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I'm going to be taking A levels Economics, I haven't studied the subject at O levels but I really wanted to learn it and here I am. Any advice ?
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Ok dear you belong to which country and city? I am here to help you out to the maximum extent as I can.
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I'm from Rawalpindi, Pakistan.
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I'm from Rawalpindi, Pakistan.
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thats great dear. Actually I have written Completely solved past papers books and notes. those are available in rawalpindi at azzem acadmy bookshop. phone number is 0514420511 and 03234819300. Do get them fast and then contact me I will make you understand the topics and then study those topics from the book. It would help you alot inshAllah.
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Sir, but I am not from Pakistan how can I get these books? Does this publisher deliver these books to other countries also?
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A
G
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18 The diagram shows the market demand and supply curves for rice.
What would happen if a government imposed a maximum price of $10?
A The government would need to supply Q1 to Q3.
B The quantity sold would be Q1.
C The quantity sold would be Q2.
D The quantity sold would increase from Q2 to Q3.
This is a question from paper 12 year 2011 ( 9708_w11_qp)
Why the answer is C. I think it should be B.
Please solve this question
What would happen if a government imposed a maximum price of $10?
A The government would need to supply Q1 to Q3.
B The quantity sold would be Q1.
C The quantity sold would be Q2.
D The quantity sold would increase from Q2 to Q3.
This is a question from paper 12 year 2011 ( 9708_w11_qp)
Why the answer is C. I think it should be B.
Please solve this question
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because this is a general rule that quantity doesn't get affected if the maximum price imposed is greater than the equilibrium price. Maximum price should always be lower than the equilibrium price.
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u should see the diagram of maximum price for more info.
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The quantity sold would be Q2, which is equilibrium quantity and price will remain at $8 because maximum price set above equilibrium is always ineffective and minimum price set below equilibrium is always ineffective.
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Thanks Sir and John
Thanks a lot for prompt reply. I understood the concept of maximum price and minimum price.
Thanks a lot for prompt reply. I understood the concept of maximum price and minimum price.
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welcome dear
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sir i hvnt studied eco in o levels and i want to take it in a levels as it is required for acca . . . .. so can u plz hlp me
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13 In the diagram OS1 and OS2 are two straight-line supply curves.
As price increases, the elasticity of supply
A decreases along both OS1 and OS2.
B increases less rapidly along OS1 than along OS2.
C increases more rapidly along OS1 than along OS2.
D is constant along both OS1 and OS2.
Why the answer is D ?
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when its a straight line (through origin in this case)
you get constant elasticity along each of the curves
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yes dear. why not.
contact me on facebook for immediate conversation. [email protected]sir i hvnt studied eco in o levels and i want to take it in a levels as it is required for acca . . . .. so can u plz hlp me