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ECONOMICS P1
- Thread starter djdead1
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the demand curve question right?
eliminating options:
A -- demand is price inelastic when the price of goods is low-- think about a match box and a laptop
B -- will only occur if the demand is price elastic
C-- The slope of a straight-line demand curve, one with a constant slope, has constantly changing elasticity. It includes all five elasticity alternatives--perfectly elastic, relatively elastic, unit elastic, relatively inelastic, and perfectly inelastic in order. No two points on a straight-line demand curve have the same elasticity.
D -- naa due to above reason
ans C
eliminating options:
A -- demand is price inelastic when the price of goods is low-- think about a match box and a laptop
B -- will only occur if the demand is price elastic
C-- The slope of a straight-line demand curve, one with a constant slope, has constantly changing elasticity. It includes all five elasticity alternatives--perfectly elastic, relatively elastic, unit elastic, relatively inelastic, and perfectly inelastic in order. No two points on a straight-line demand curve have the same elasticity.
D -- naa due to above reason
ans C
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- Messages
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memyself said:
well the table shows that there has been an increase in price of few goods and all are greater than the CPI. The CPI is a measure of the average change in prices thus the CPI being less at 2.5% means that the rise in price of other goods (except the ones in table) are lower than 2.5%.
B is a real confusing option...:/
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Seriously! Shoot, what do i do now :[ exam starts in 8hours!
btw, it says CHANGE, will that neccessarily be an INCREASE?
btw, it says CHANGE, will that neccessarily be an INCREASE?
I THINK WHAT U SHUD DO IS REVISE UR MISTAKESmemyself said:
THE BEST PART ABOUT P1 IS DAT DERE CAN ONLY B SO MANY QUESTIONS! QUESTIONS R BOUND TO REPEAT, OR APPEAR IN SOMEWHAT SIMILAR WAYS TO THE PREVIOUS ONES...SO MAKE SURE U KNO EXACTLY WHERE U GO WRONG AND LOOK OUT FOR ALL THAT....N GET SOME SPLEEP
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A change can be both increase or decrease..
be sure that A and D are out... while C is correct, I don't see much wrong with B either... ahh its just one of the bad mcqs that is hard to make sense
be sure that A and D are out... while C is correct, I don't see much wrong with B either... ahh its just one of the bad mcqs that is hard to make sense
Any one please help me on qtn 13 http://www.xtremepapers.me/CIE/Internat ... 2_qp_1.pdf
and Qtn 9 http://www.xtremepapers.me/CIE/Internat ... 3_qp_1.pdf
asap! will be grateful
and Qtn 9 http://www.xtremepapers.me/CIE/Internat ... 3_qp_1.pdf
asap! will be grateful
- Messages
- 138
- Reaction score
- 16
- Points
- 28
djdead1 said:I THINK WHAT U SHUD DO IS REVISE UR MISTAKESmemyself said:
THE BEST PART ABOUT P1 IS DAT DERE CAN ONLY B SO MANY QUESTIONS! QUESTIONS R BOUND TO REPEAT, OR APPEAR IN SOMEWHAT SIMILAR WAYS TO THE PREVIOUS ONES...SO MAKE SURE U KNO EXACTLY WHERE U GO WRONG AND LOOK OUT FOR ALL THAT....N GET SOME SPLEEP
Lol, yeap done that. You're right i better get some sleep now, otherwise i'm going to mess up the ones i already know, as well |:
Good Luck, you two! Have a good night, and thanks. :]
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@ahsan99
Q13; since its an agriculture market, u're assuming that supply fluctuates. so after govt imposes that min price supply has increased to form the equilbrium at the price marked (horizontal btween y & z). and therefore the area within is your ans!
Q13; since its an agriculture market, u're assuming that supply fluctuates. so after govt imposes that min price supply has increased to form the equilbrium at the price marked (horizontal btween y & z). and therefore the area within is your ans!
memyself said:djdead1 said:I THINK WHAT U SHUD DO IS REVISE UR MISTAKESmemyself said:
THE BEST PART ABOUT P1 IS DAT DERE CAN ONLY B SO MANY QUESTIONS! QUESTIONS R BOUND TO REPEAT, OR APPEAR IN SOMEWHAT SIMILAR WAYS TO THE PREVIOUS ONES...SO MAKE SURE U KNO EXACTLY WHERE U GO WRONG AND LOOK OUT FOR ALL THAT....N GET SOME SPLEEP
Lol, yeap done that. You're right i better get some sleep now, otherwise i'm going to mess up the ones i already know, as well |:
Good Luck, you two! Have a good night, and thanks. :]
GUNAAIITE N U 2.... URE MOST WLCUM!
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Because they are jealous from its "revenue".
I have only one problem with economics , that is that cost of living -_-" in Nov2003 Paper 1 - q25 ; Can someone explain it ?
I have only one problem with economics , that is that cost of living -_-" in Nov2003 Paper 1 - q25 ; Can someone explain it ?