ALL ECONOMICS DISCUSSION, PAPERS HELP HERE!!

[holtadit]

darren he asked u that
after u told him about normal, inferior goods and the saving pattern

Its alright people.

Thank you to both of you.

I will +rep you both later on. I cant right now since I have already +reped someone. 

[BlackBunny103]

Hey guys, could you help me out with this one: Describe what determines the demand for factors of production.
Thanxx

[holtadit]

Hey guys, could you help me out with this one: Describe what determines the demand for factors of production.
Thanxx

Demand for Labour is a derived demand.

Check Pg 229 of Economics a Complete Course By Dan Monyihan. 

[BlackBunny103]

Demand for Labour is a derived demand.

Check Pg 229 of Economics a Complete Course By Dan Monyihan. 

Hey Thanxx. Oh WOW you use the same textbook as me
By the way, you just change your name? The Lion Son of Canaan 

[holtadit]

Hey Thanxx. Oh WOW you use the same textbook as me
By the way, you just change your name? The Lion Son of Canaan 

My old name and my current one mean the same thing. Except my old name was in hebrew

[$H00t!N& $t@r]

i have a question... O/N 2009 paper 1 question 22...
i chose C but apparently its wrong.  Can you please explain why the answer is A??

[J.Darren]

i have a question... O/N 2009 paper 1 question 22...
i chose C but apparently its wrong.  Can you please explain why the answer is A??

For the maximum price to be effective, it must be set below the equilibrium price levels.

A The maximum prices increased demand whilst reducing supply.

Demand curve shifts to the right whilst the supply curve shifts to the left, the equilibrium price would increase.

B The maximum prices reduced demand whilst increasing supply.

Demand curve shifts to the left whilst the supply curve shifts to the right, the equilibrium price would decrease.

C The maximum prices were set above the equilibrium price levels.

Product will be traded at the equilibrium price level.

D The maximum prices were set at the equilibrium price levels.

No infulence on the equilibrium price levels.

[holtadit]

What is a quick definition of GDP per capita ?

[J.Darren]

What is a quick definition of GDP per capita ?

GDP = amount of goods and services produced by an economy over a period of time, usually a year

per capita = GDP / total population

[holtadit]

Isnt it the income per head or something ?

What would you write if this were a 4 mark question ?

[J.Darren]

Isnt it the income per head or something ?

What would you write if this were a 4 mark question ?

What you are referring to is called net national income per capita.

[holtadit]

Last question.

Could you differentiate between; GNP, GDP and NNP ?

Please and Thank You ! 

[J.Darren]

Last question.

Could you differentiate between; GNP, GDP and NNP ?

Please and Thank You ! 

GNP - not included. Gross National Product - GDP subtracted by net property transfer from abroad (e.g. rent on properties owned abroad, dividends paid by foreign companies, interest in loans overseas, interest in savings overseas, profits from businesses owned abroad, salary earned when working abroad). Net prpperty transfer from abroad is essentially the same as the income account of current accounts - balance of payments.

NNP - not included as well. Net national product - http://www.investopedia.com/terms/n/net-national-product.asp

[destructor]

Isnt it the income per head or something ?

What would you write if this were a 4 mark question ?

Firstly if it were a four mark answer
this would be your answer
the definition is that it is an approximation of the value of output produced in a country per person
can also be referred to as average income earned by an average individual in the economy because the total sale of national output produces the total national income...(Both are relative terms)
Then the formula: total GDP/population
Next its use must be defined
such as it is used as an effective indicator to measure the standards of living in the country
and the obvious conclusion that countries with high GDP per capita are more productive and its standards of living are better. hence such countries tend to be MEDC's

[J.Darren]

can also be referred to as average income earned by an average individual in the economy because the total sale of national output produces the total national income...(Both are relative terms)

I disagree, I think it would be necessary for a candidate to differentiate between the two. GDP - output whereas NNI applies a drastically different methology in ... calculating.