Economics doubt P3 and P4, post it all in here!

[hadi6512462]

The Law of Equi-Marginal Utility is an extension to the law of diminishing marginal utility. The principle of equi-marginal utility explains the behavior of a consumer in distributing his limited income among various goods and services. This law states that how a consumer allocates his money income between various goods so as to obtain maximum satisfaction. Assumptions The principle of equi-marginal utility is based on the following assumptions: (a) The wants of a consumer remain unchanged. (b) He has a fixed income. (c) The prices of all goods are given and known to a consumer. (d) He is one of the many buyers in the sense that he is powerless to alter the market price. (e) He can spend his income in small amounts. (f) He acts rationally in the sense that he want maximum satisfaction (g) Utility is measured cardinally. This means that utility, or use of a good, can be expressed in terms of units or utils. This utility is not only comparable but also quantifiable. Principle Suppose there are two goods 'x' and 'y' on which the consumer has to spend his given income. The consumer’s behavior is based on two factors: (a) Marginal Utilities of goods 'x' and 'y' (b) The prices of goods 'x' and 'y' The consumer is in equilibrium position when marginal utility of money expenditure on each good is the same. The Law of Equi-Marginal Utility states that the consumer will distribute his money income in such a way that the utility derived from the last rupee spent on each good is equal. The consumer will spend his money income in such a way that marginal utility of each good is proportional to its rupee.
Example bamford ma achi di hue ha..wahan sa daikh loo

Cn sum1 explain to me about the equi marginal principle plz??? better if with some examples

 

[Waleed007]

Can someone please give me the perfect answer for distinguish between developing and developed economies? (12)

 

[David Hussey]

::A^
and how to answer part b man? :/

 

[David Hussey]

::A^
and how to answer part b man? :/View attachment 43913

 

[dielectric constant]

plz explain Sir Qamar's question number 7(both parts).....

 

[:: A^]

::A^
and how to answer part b man? :/View attachment 43913

Bro.. I hate utility questions
I am not planning to do those, just know the basics in case (God Forbid) theres a data response.
Anyways your answers is okay, but isnt it less for 12 marks?
And as for the B part, i think u can mention about paradox of value.
First half explain how the MU diminishies from consecutive purchases. Eg: water
then other side of the argument, write about the opposite utility relation with luxury goods like Diamonds..

Why wouldnt you do question 5 and 7 in that paper?

 

[SalmanPakRocks]

::A^
and how to answer part b man? :/View attachment 43913

Unemployment and Phillips curve.
http://www.s-cool.co.uk/a-level/economics/unemployment-and-the-phillips-curve

 

[SalmanPakRocks]

Developed and developing Economies
http://www.economicshelp.org/blog/1187/development/economic-growth-and-development/
Macro-economic objectives.
http://www.s-cool.co.uk/a-level/economics/macroeconomic-objectives

 

[David Hussey]

Bro.. I hate utility questions
I am not planning to do those, just know the basics in case (God Forbid) theres a data response.
Anyways your answers is okay, but isnt it less for 12 marks?
And as for the B part, i think u can mention about paradox of value.
First half explain how the MU diminishies from consecutive purchases. Eg: water
then other side of the argument, write about the opposite utility relation with luxury goods like Diamonds..

Why wouldnt you do question 5 and 7 in that paper?

m just practicing these questions man, wht if cie gives all the hard ones?
so basically i should write whtever i wrote in part A, cox u said how mu diminishes from consecutive purchases , isnt tht wht i wrote in part a? -.-
and paradox of value, all we can write is like a para with just 5-6 lines

 

[David Hussey]

Unemployment and Phillips curve.
http://www.s-cool.co.uk/a-level/economics/unemployment-and-the-phillips-curve

i thought u were gonna write them

 

[David Hussey]

are these points enough for a question which asks about economic growth and economic development
idk the exact question

 

[David Hussey]

Unemployment and Phillips curve.
http://www.s-cool.co.uk/a-level/economics/unemployment-and-the-phillips-curve

great, finally understood the augmented philips curve Alhamdulilah through s-cool
thnx man

 

[unique111]

Please, somebody show me the different supply curves of labour for an employer, firm in all the market structures. I am confused.

 

[:: A^]

are these points enough for a question which asks about economic growth and economic development
idk the exact question

wrong pic

 

[:: A^]

m just practicing these questions man, wht if cie gives all the hard ones?
so basically i should write whtever i wrote in part A, cox u said how mu diminishes from consecutive purchases , isnt tht wht i wrote in part a? -.-
and paradox of value, all we can write is like a para with just 5-6 lines

dont scare me
Thats the problem of these questions. Cant think of things to right.. Whereas things like policies, gdp, efiiciency, market struct.. can write smethin

 

[David Hussey]

sorry this one

wrong pic

dont scare me
Thats the problem of these questions. Cant think of things to right.. Whereas things like policies, gdp, efiiciency, market struct.. can write smethin

dude if u get scared looking at the paper, ill probably be admitted to the hospital

 

[Deadpunk.mr]

thing is, this thread already has most of the expected problems solved. no matter what comes i still think we all can put up a good show... Got the diagrams right so that's important...and btw i'll be righting a 25 marks answer about labor market so i hope you all can take help and tell me what to add if needed

 

[hadi6512462]

Yawr app ka pas Zahid Kamal ka past papers nae han kia?... Us ma A* wala answer likh hua ha

Can someone please give me the perfect answer for distinguish between developing and developed economies? (12)

 

[hadi6512462]

sorry this one



dude if u get scared looking at the paper, ill probably be admitted to the hospital

Bro open the bamford book and there you shall find a detailed distinction and characteristics of Economic Growth and Economic Development ...And most students have a wrong perception about this book...they think its not good for A-Levels but mind this that, this is the best book if you want to ace the syallbus contents...do read it atleast one time before giving your P4

 

[hadi6512462]

w

m just practicing these questions man, wht if cie gives all the hard ones?
so basically i should write whtever i wrote in part A, cox u said how mu diminishes from consecutive purchases , isnt tht wht i wrote in part a? -.-
and paradox of value, all we can write is like a para with just 5-6 lines

what i think, Data-Response this time won't come from Labour market or any of the market structures becuase in May/June and Oct/Nov 2013 they came from Structures so bhul jao kah abb bhe isi sa ay ga.. Now left topics include National Income(High probabilty to come as Data) which may be related to developing or develop nations can come as Data response question...Utility nae ata data ma....i guess pastpapers ma bhe aik he dafa aya thaw utility .