Not all the answers. Just the difficult ones. All the answers would be very time consuming and unnecessary. And guys instead of saying the q number plz say the question. Its difficult to remember the number. So about comparative advantage, the one with the four production possibility diagram, wat was the answer?
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As and A level economics paper 12
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Guys, there's one question about the supply and demand diagram for merit goods...something like showing the real value of that kind of good i guess... don't remember for sure,
what's the answer?
and any one remember the last question?
BTW, cross elasticity is +0.16
Cloth vs. food is C (1:1.5 if i remember correctly..)
what's the answer?
and any one remember the last question?
BTW, cross elasticity is +0.16
Cloth vs. food is C (1:1.5 if i remember correctly..)
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Number 7 is about unitary price elasticity. Is the answer c?
Number 30 is about Japan's investment in UK.
Number 30 is about Japan's investment in UK.
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@Amelliaaivana The answer for 7 was the one in which total revenue remained same.
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@Sijan I answered A
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I choose A after ruling all the other ones out as wrong
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Amen
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@Ruqiua I think the answer of us and uk one was B
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I think it'll be easier if we compile all the questions into one post? He's what I wrote on the ones i remember:
These aren't the question numbers they're just so its easy to see how many questions have been answered out of the 30.
1. Capital is made from the other factors of production
2. A command economy is more likely to be stable
3. A reduction in tariffs will shift the demand curve for domestically produced cars to the left
4. Conditions 1 and 4 will make supply relatively inelastic
5. Increased interest rates in USA and decreased in UK will increase supply and decrease demand for the pound so the new value was at point C.
6. To reflect the true value of a merit good to society demand needs to increase as opposed to supply increase so that price increase as the merit good is worth a higher value.
7. A change in the quantity demanded"? Not sure if it meant shift in demand curve or change in quantity traded.
8. The J-curve was being illustrated.
9. The terms of trade was 150 so value of imports changed by -20%
10. The answer was C ie. the opportunity costs were 1 and 2 since the value of 1.5 is between this.
11. Japanese car manufacturer moving into UK: will improve trade in goods but current account balance uncertain in the long run.
12. When PED is unitary expenditure doesn't change with increasing price.
13. When bus fares increase by 1% demand for rail travel increases by 0.16%
14. On average, employed UK workers had an increase in real income as wage rates increased more than inflation.
15. Where 2 PPCs were given, their opportunity costs were constant.
16. A fall in the value of exports and a rise in the value of imports and a fall in income transfers will lead to a depreciation of the currency.
17. An argument against trade protection is that domestic prices will increase.
18. When a country's currency appreciates.i don't remember the answer....
That's 18 can anyone remember any more?
These aren't the question numbers they're just so its easy to see how many questions have been answered out of the 30.
1. Capital is made from the other factors of production
2. A command economy is more likely to be stable
3. A reduction in tariffs will shift the demand curve for domestically produced cars to the left
4. Conditions 1 and 4 will make supply relatively inelastic
5. Increased interest rates in USA and decreased in UK will increase supply and decrease demand for the pound so the new value was at point C.
6. To reflect the true value of a merit good to society demand needs to increase as opposed to supply increase so that price increase as the merit good is worth a higher value.
7. A change in the quantity demanded"? Not sure if it meant shift in demand curve or change in quantity traded.
8. The J-curve was being illustrated.
9. The terms of trade was 150 so value of imports changed by -20%
10. The answer was C ie. the opportunity costs were 1 and 2 since the value of 1.5 is between this.
11. Japanese car manufacturer moving into UK: will improve trade in goods but current account balance uncertain in the long run.
12. When PED is unitary expenditure doesn't change with increasing price.
13. When bus fares increase by 1% demand for rail travel increases by 0.16%
14. On average, employed UK workers had an increase in real income as wage rates increased more than inflation.
15. Where 2 PPCs were given, their opportunity costs were constant.
16. A fall in the value of exports and a rise in the value of imports and a fall in income transfers will lead to a depreciation of the currency.
17. An argument against trade protection is that domestic prices will increase.
18. When a country's currency appreciates.i don't remember the answer....
That's 18 can anyone remember any more?
there was abut appreciation if international value of ur currency rises what will happen
and there was of absolute adv like opportunity cost is similar 2nd option opportunity cost is constant 3rd is future growth prospective of both r similar n last one was two goods cannot be traded
and there was one in which tables were given expor value import value n income transfer what will cause devaluation
and there was of absolute adv like opportunity cost is similar 2nd option opportunity cost is constant 3rd is future growth prospective of both r similar n last one was two goods cannot be traded
and there was one in which tables were given expor value import value n income transfer what will cause devaluation
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Thanks ruguia I've edited the post.