Economic Questions V

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You are welcome to ask questions on Economics. I am looking to explain economic principles / ideas/ recent developments in economics. Due to the volume of questions, I can no longer promise to answer. But, I will try if it meets below criteria.

I will post the answer on this blog, for everyone to benefit from. I never email individual answers

Please Bear In Mind

  1. Use google custom search (top right) to see if question has been asked. If I have already answered a question I don’t tend to repeat it.
  2. The replies will be guidance and not for duplication. Your essays should be your own work.
  3. Don’t ask me to do your coursework / assignment e.t.c. The answer will be published here where your teacher can see it.
  4. My speciality is economics for British A Level standard.
  5. I don’t answer university questions or maths calculations
  6. I am looking to explain economic principles / ideas/ recent developments in economics.
  7. I will answer as a new post. Check home page of blog for new post. With question and answers

I studied PPE at Lady Margaret Hall college, Oxford University, and currently work as an Economics A Level teacher. I have also examined several different economic units for Edexcel AS and A2.

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467 thoughts on “Economic Questions V”

  2. Politicians are reviving the notion that intervening in individual industries and companies can drive growth and create jobs. Debate the case for this belief.

  3. Can u tell me how to start my essay on this question. I mean, how many positive and negative points and evaluation points do i have to write.

    The Question is…
    Britain had a deficit in its trade in goods balance of 34billion in 2002. Examine the likely reasons for this. (20 marks)

    I need to know a good essay structure to write. Thank u in advance

    plx reply to me [email protected]

  4. I wonder if it is true that advertising expenditure elasticities underestimate the full effect of advertising on demand.

  5. HI GUYS,
    DO ANY OF YOU PEOPLE KNOW IF THERE’S ANYWAY AT ALL IN WHICH ECONOMIC THEORY PLAYED A PART IN CAUSING THE Dec 07 RECESSION?????

  6. AQA economics
    Hi
    I’m going to do an A level in economics because I want to change potential career direction. I’ve left school, did well with my 3 A levels grade A at school last year and wondering if I should use a distance learning organisation as I want to obtain at least grade A. So would like advice would I be able to get grade A just buying course books and revision guides then teaching myself or would a distance learning course be best?

  7. Suppose there are n identical firms in a Cournot equilibrium. Show that the absolute value of the elasticity of the market demand curve must be greater than 1/n. (Hint: In the case of the monopolist, n = 1, and this simply says that a monopolist operates at an elastic part of the demand curve (MR > 0). Apply the logic that led us to that conclusion to this problem.)

  10. Hi Gregory Joziak
    Yes Australian economy has big current account deficit in past. It is also true that it has an export oriented economy. Payment of interest and dividends has large share in current account deficit. But Australia also has trade balance deficit. Actually Australia exports martial rather than high cost finished goods. Australia also has regularly budget deficit. It increases current account deficit. Australia depends heavily on foreign companies. Japan has big companies which do business in outside countries. Australian business borrowed money from outside. They have to pay interest on it. This increases payment side. National saving rate is not sufficient. Australian current account deficit was above 4% in eighties and later more than 5%. On the other hand China and Japan has huge current account surplus.
    Regards,
    RAJ

  12. Hi Marg

    There are two types of national incomes. First is Gross National Income and second one is Net National Income. National income is what value a country has produced in a year in form of goods and services.
    Yes it may be one indicator of progress of a country but not complete indicator.
    Actually National income per capita is v. good indicator of economic development.
    High Gross national Income per capita of U.S.A., Canada, England show their huge economic development and low Gross NI of Pakistan, Niger, Nepal etc show their poor economies.
    So we can say national income per capita is most important indicator of economic development although there are others indicator need to keep in mind.
    Regards,
    Raj

  14. What is the difference between GDP and GPI? Is their a case for scrapping GDP and use GPI as the way to calculate growth?

  15. Hi Matthew
    This recession was more related to banking and financial parts of economy than whole economy. Weak regulations of financial institutions and overvaluation of property were major cause of recession. Economy was growing very well for many years before 2007. When capacity of growth came to end, It started going little back. An economy can not grow at long run continuously, there is a capacity factor. It has to settle at capacity factor.
    In short run , sometime it grow more or less than capacity factor. Then it try to come at its capacity level. Commodity prices reached at top. This made demand side very weak. This damaged the coordination of economy. Yes if Fed had played a good role, recession would be much smaller.

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