Qualification > Commerce
ALL ECONOMICS DISCUSSION, PAPERS HELP HERE!!
aangel42:
truetruetrue...
ok thank you! that makes sense :)
wait but wait, what do you mean by "if all other conditions remain constant"
like what other conditions?
abhia:
--- Quote from: aangel42 on May 27, 2010, 02:05:58 pm ---for economics: can anyone help me out with M/J paper 6, question 1c.
i SUCK at drawing demand and supply graphs. how do you guys do it???
ahhh i'm hoping and praying we won't have to do one on paper 3 tmrw Sad i will end up screwing it. bigggg time.
p.s i checked the mark scheme. it is no help. as usual. i'm attaching the paper though
thank youuuuu
--- End quote ---
hello,
i've attached a demand and supply graph,
sorry im really bad at paint :D,
basically this graph is showing a decrease in demand for it while the supply stays the same, keep in mind that shares never have a decrease in supply as it is fixed. The decrease in demand is showing that the Price has gone down,
hope this helps.
coolperson123:
--- Quote from: abhia on May 27, 2010, 02:34:28 pm ---hello,
i've attached a demand and supply graph,
sorry im really bad at paint :D,
basically this graph is showing a decrease in demand for it while the supply stays the same, keep in mind that shares never have a decrease in supply as it is fixed. The decrease in demand is showing that the Price has gone down,
hope this helps.
--- End quote ---
Ahhhh that makes sense. +rep :)
abhia:
--- Quote from: aangel42 on May 27, 2010, 02:31:16 pm ---truetruetrue...
ok thank you! that makes sense :)
wait but wait, what do you mean by "if all other conditions remain constant"
like what other conditions?
--- End quote ---
basically, you dont have to place the fact that other conditions remain constant in your examination,
however keep in mind that all the goods and services produced at this moment must stay the same, and so you can determine the balance of payments and also imports. You can also argue that the inflation levels must stay the same because an increase in inflation would lead to a decrease in demand for exported goods and services which makes it less favourable. So keeping inflation levels stable, there are many other factors that you can argue with :)
Good luck if you have paper 3 tommorow :),
Just 1 advice, Dont use words like "could" or "should" or "would"
be confident to the examiner and use things like "this will lead too" or something along the lines of that.
J.Darren:
--- Quote from: aangel42 on May 27, 2010, 01:46:07 pm ---does a very high GDP per capita indicate a favorable balance of payments?
......not necessarily, right??
--- End quote ---
Actually it does. GDP is calculated by the equation C + I + G + (X - M), X represents exports.
However in IGCSE they do not expect you to know this equation, so best if you stick with an overall surplus in the goods and service, income and current transfer accounts combined.
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