ALL ECONOMICS DISCUSSION, PAPERS HELP HERE!!

[nid404]

2008 oct.nov Question 1 (c) ii)

COuld you please draw the demand and supply curves for bothe products X and Y. Thanks.

In a few hrs..

[holtadit]

In a few hrs..

Thanks nid

[nid404]

I can't find the paper in my folder

Plz upload it

[holtadit]

Here

[nid404]

Complementary goods

[DaYmN]

Does any one have any notes on Macroeconomics??
and demand and supply diags?
please attach!
thanx 

[hmh]

Does any one have any notes on Macroeconomics??
and demand and supply diags?
please attach!
thanx 

its good to be back lol!

Will do in few hrs

[Saladin]

Does any one have any notes on Macroeconomics??
and demand and supply diags?
please attach!
thanx 

[Amr Fouad]

looool This topic is for Economics Dude 321...and he asked about Macreconomics..not Macrmolecules..

Thanks for helping anyways

[SGVaibhav]

looool This topic is for Economics Dude 321...and he asked about Macreconomics..not Macrmolecules..

Thanks for helping anyways

whats up with the quote
i quoted dude321 and it came empty

oh lool, i realized dude 321, wrote everything in the quote and wrote nothing in his post...

[holtadit]

Does any one have any notes on Macroeconomics??
and demand and supply diags?
please attach!
thanx 

http://thenightdreamer.wordpress.com/

[BlackBunny103]

Hello I need help with a question
It's MJ 2009 paper 2, Q2

How might knowledge of price elasticity be of use to a producer? [6 marks]

Please answer with as many details as possible.
Much appreciated.

[nid404]

I gave this very paper to get an A* 

But u won't expect me to remember...ill think of all the possible advantages and put them down...

[Saladin]

Hello I need help with a question
It's MJ 2009 paper 2, Q2

How might knowledge of price elasticity be of use to a producer? [6 marks]

Please answer with as many details as possible.
Much appreciated.

Hey,

1. It will help them to determine which potential product's prices can be increased, in order to increase total revenue earned.

2. It can also be useful for producers to understand which products can be relied on, i.e. which ones will provide the company with a steady flow of revenue.

However, it has limitations,

1. It can only provide information about whether the revenue will increase or not regarding price, and does not take into account external effects.

There are more, but I believe these should be enough, and I dont have time.

[Urich Von Conon]

Construction of RPI
1 ) Selection of goods - it's nearly impossible to calculate the price changes of all the goods and services, so a basket of about several 100 goods are selected, these goods must be the goods that are used by an average family.

2 ) base year - this must be a normal economic year in which there are no political or economical imbalances. base year is taken as standard year with which rest of years prices are compared. price level in base year is represented by 100.

3 ) collection of data - statistical department of govt. collects info about the prices in the base year as well as current year (the year whose price level is supposed to be found) info is gathered from price-lists, newspapers, cooperative societys office, etc.

4 ) assigning weight - patterns of expenditure are different for different goods, ppl spend more on some goods and less on others. more weight shud be given to those goods that are being used relatively commonly.

weight= expenditure on the good/total expenditure

5 ) Index (prive relatives) are calculated by:-

INDEX = current year price/base year price X 100

6 ) Weighted Index is calculated:-

WI = weight X index

7 ) RPI = total weighted index/total weights

8 ) RATE OF INFLATION is calculated by takin % changes in current year average prices, i.e, RPI of current year to the base year average prices

Rate of inflation = (RPI (current) - RPI (last year))/RPI (last year)*100%


Hope that helped.

How accurate is the above answer on how to calculate inflation ? Are there any errors ?