Economics, Accounting & Business: Post your doubts here!

[ZohaKhan]

Nothing to be confused of. Go for John Sloman if you're fine with long reading texts. Anderton's notes are very brief, yet easy to understand.
I've been using John Sloman for references and Colin Bamford (textbook) throughout my A Levels journey. In fact, Sloman's notes were more than sufficient alrd.

Thanks much =)

 

[shimmering star]

How was economics paper 4 guys???

 

[Mahreen Mustafa]

Please can anyone tell me how to revise for business studies p3 for 8th June?

 

[mariamfaizal41097]

Hi can anyone please explain question 5? Thanks

 

[uzair shahid]

How was economics paper 4 guys???

alhamdulillah. what about you?

 

[AmeenaYB]

How was accounting paper 32??

 

[shimmering star]

alhamdulillah. what about you?

alhamdulilah was good....do u remeber any answer of case study..plz tell me

 

[asadalam]

Can someone explain how the ans is B?

Sana Adnan

 

[Heyyy]

Can someone explain how the ans is B?
View attachment 53979
Sana Adnan

Income outflow.

Since it will be serving African nations;exports.

 

[asadalam]

Income outflow.

Since it will be serving African nations;exports.

So in simple words its exporting cars and accepting Mauritian currency for it hence improving visible trade and then sending those profits back to the US by converting into Dollars hence money moves out and invisible balance worsens?Is the invisible balance worker remittance or the company sending the earrings back to the US?

Btw you giving Eco AS this session too?I have some more questions as well.

 

[Heyyy]

So in simple words its exporting cars and accepting Mauritian currency for it hence improving visible trade and then sending those profits back to the US by converting into Dollars hence money moves out and invisible balance worsens?Is the invisible balance worker remittance or the company sending the earrings back to the US?

Btw you giving Eco AS this session too?I have some more questions as well.

Yes.
Both remittances and earnings.

I'm giving Eco A levels.Yeah sure you can ask.

 

[asadalam]

OK so this is similar to the last one, so im just confirming now that i know the procedure.Trade in will improve due to supply outside and current balance will be uncertain as it will depend on value of trade in and outflow of income right?

And in this one all 4 are characteristics of money so what makes C stand out?I chose D as i thought it must have some intrinsic value,but in MS it said C.All 4 make sense but C is the correct ans :/
Heyyy

 

[Heyyy]

View attachment 54007
OK so this is similar to the last one, so im just confirming now that i know the procedure.Trade in will improve due to supply outside and current balance will be uncertain as it will depend on value of trade in and outflow of income right?
View attachment 54008
And in this one all 4 are characteristics of money so what makes C stand out?I chose D as i thought it must have some intrinsic value,but in MS it said C.All 4 make sense but C is the correct ans :/
Heyyy

For Q27 yes.Current balance will be uncertain as it includes all the components.

Q4,
A is not correct as durability is not essential for it to be a mode of exchange.
Intrinsic value is something that involves more than just the purchasing value which is not true for money.Assets usually have intrinsic value but they can't be used as a medium of exchange.
Money must be limited in supply so that it holds a value;unlimited supply would mean close to zero purchasing power

 

[asadalam]

For Q27 yes.Current balance will be uncertain as it includes all the components.

Q4,
A is not correct as durability is not essential for it to be a mode of exchange.
Intrinsic value is something that involves more than just the purchasing value which is not true for money.Assets usually have intrinsic value but they can't be used as a medium of exchange.
Money must be limited in supply so that it holds a value;unlimited supply would mean close to zero purchasing power

And what about B?Shouldnt it be approved by the government to be widely used a medium of exchange?

 

[Heyyy]

And what about B?Shouldnt it be approved by the government to be widely used a medium of exchange?

It should be but option C is more relevant.

 

[asadalam]

How is the answer D?Shouldnt it be B as all curves pass through the origin and have constant PES but S3 has higher at each point than S1?
Is the answer C because the OC for production of X for Fantasia will be high as its labour will go unused?
Heyyy

 

[Heyyy]

View attachment 54011
How is the answer D?Shouldnt it be B as all curves pass through the origin and have constant PES but S3 has higher at each point than S1? View attachment 54012
Is the answer C because the OC for production of X for Fantasia will be high as its labour will go unused?
Heyyy

Any supply curve passing through the origin has a unitary elasticity.
So all will be same i.e unit.

Sealand has a comparative advantage in X because it has plentiful land and X involves use of more land than labour.
The opportunity costs are constant for alternate uses in each country.

 

[asadalam]

Any supply curve passing through the origin has a unitary elasticity.
So all will be same i.e unit.

Sealand has a comparative advantage in X because it has plentiful land and X involves use of more land than labour.
The opportunity costs are constant for alternate uses in each country.

But it doesnt say Fantasia has LESS land than Sealand,only that it has more labour.So F could have more land as well and hence a comparative advantage in X.Dont you think?

And that supply curve,how does that make sense?If slope is different wouldnt DelQ/DelP be different?

 

[shimmering star]

Hey guys!!!
A2 economics paper 3 is on 4 june 2015 rite???

 

[Heyyy]

But it doesnt say Fantasia has LESS land than Sealand,only that it has more labour.So F could have more land as well and hence a comparative advantage in X.Dont you think?

And that supply curve,how does that make sense?If slope is different wouldnt DelQ/DelP be different?

It can be obviously but nothing is explicitly stated.

It's a rule.Any line passing through the origin will have unit elasticity