ALL ECONOMICS DISCUSSION, PAPERS HELP HERE!!

[hmh]

hi, does actual economic growth take inflation into account? Thank You :S

nid's right. Also, Over time, the growth in GDP causes inflation, and inflation begets hyperinflation. Once this process is in place, it can quickly become a self-reinforcing feedback loop. This is because in a world where inflation is increasing, people will spend more money because they know that it will be less valuable in the future. This causes further increases in GDP in the short term, bringing about further price increases. Also, the effects of inflation are not linear; 10% inflation is much more than twice as harmful as 5% inflation.

Hope tht helps

[ni]

Has anyone bothered making a sort of 'list' for questions that come up regularly?

lol.. i dnt think anyone has " bothered".. but thx for the idea.. i will make and post it today and u can hav a look!

Hope tht wil help. GUd Luck!

Wow, thanks! Lol, I didn't mean bothered exactly Just that it seems like the questions are repeats but still the mark schemes sometimes changes and all.

[hmh]

Has anyone bothered making a sort of 'list' for questions that come up regularly?

lol.. i dnt think anyone has " bothered".. but thx for the idea.. i will make and post it today and u can hav a look!

Hope tht wil help. GUd Luck!

Wow, thanks! Lol, I didn't mean bothered exactly Just that it seems like the questions are repeats but still the mark schemes sometimes changes and all.

yea dnt worry m8.. will be posting it soon too. GUD LUCK

[alex000]

hi, does actual economic growth take inflation into account? Thank You :S

nid's right. Also, Over time, the growth in GDP causes inflation, and inflation begets hyperinflation. Once this process is in place, it can quickly become a self-reinforcing feedback loop. This is because in a world where inflation is increasing, people will spend more money because they know that it will be less valuable in the future. This causes further increases in GDP in the short term, bringing about further price increases. Also, the effects of inflation are not linear; 10% inflation is much more than twice as harmful as 5% inflation.

Hope tht helps

Thanks guys just getting all my definitions together

[icyblind]

can someone tell me the difference By the way inelastic demand and elastic demand, inelastic price and elastic price.
Thanks

[hmh]

can someone tell me the difference By the way inelastic demand and elastic demand, inelastic price and elastic price.
Thanks

Inelastic demand: When the demand doesnt change or is less than 0.5% when price changes. Usually it doesnt matter how much the price change but the demand wont fall. E.g. Oil, Water.. these are essential things. essential goods and services.
Elastic demand: Opposite of the inelastic.. when price changes the demand change is above 1%. These are luxury items like cars, mobiles.

It is calculated by %change in quantity demanded / % change in price

Inelastic Price and Elastic price is not really mentioned but it refers to the elastic and inelastic demand.. so u can mention it there..



Hope tht helps

[hmh]

Full revision Guide has been added to the 1st page. Hope it is useful

[icyblind]

does the revision guide cover everything..that means that i dont have to go thru the boook.
or theres still somethin to add in that guide.

Thanks By the way
Really appreciate it

[hmh]

does the revision guide cover everything..that means that i dont have to go thru the boook.
or theres still somethin to add in that guide.

Thanks By the way
Really appreciate it

well.. overall it does try to cover everything... but i guess you should look through topics tht you think are not well explained in the book... dnt leave anything on risk .. thts best tip i can give lol.. Gud luck

[ni]

Thanks for revision guide!

[Jake]

Where can i get the revision guide??

[Name]

can someone tell me the difference By the way inelastic demand and elastic demand, inelastic price and elastic price.
Thanks

Inelastic demand: When the demand doesnt change or is less than 0.5% when price changes. Usually it doesnt matter how much the price change but the demand wont fall. E.g. Oil, Water.. these are essential things. essential goods and services.
Elastic demand: Opposite of the inelastic.. when price changes the demand change is above 1%. These are luxury items like cars, mobiles.

It is calculated by %change in quantity demanded / % change in price

Inelastic Price and Elastic price is not really mentioned but it refers to the elastic and inelastic demand.. so u can mention it there..



Hope tht helps

i think you meant less than 1 not less than 0.5 % !!

[Name]

i just have a couple of questions, what do we have TO KNOW for these topics? just tell me, no need to explain or send anything

- describe and evaluate the effects of changes in structure of business organisations

- describe what determines demand for FACTORS OF PRODUCTION

- describe the allocation of resources in market and mixed economic systems
             do they mean the 3 fundemental qs or something?

and can someone please explain me those points, i know theyre a lot, but i really need help 

- analyse the different motives for SPENDING, saving and BORROWING

- discuss how and why different income groups have different expenditure patterns (spending, saving, borrowing)

- describe the main reasons for the different sizes of firms

this should keep the forum active for some time! im sorry if im asking too many questions   

thank you

[anusha500]

3 mark definition for economic growth anyone??

[hmh]

i just have a couple of questions, what do we have TO KNOW for these topics? just tell me, no need to explain or send anything

- describe and evaluate the effects of changes in structure of business organisations

- describe what determines demand for FACTORS OF PRODUCTION

- describe the allocation of resources in market and mixed economic systems
             do they mean the 3 fundemental qs or something?

and can someone please explain me those points, i know theyre a lot, but i really need help 

- analyse the different motives for SPENDING, saving and BORROWING

- discuss how and why different income groups have different expenditure patterns (spending, saving, borrowing)

- describe the main reasons for the different sizes of firms

this should keep the forum active for some time! im sorry if im asking too many questions   

thank you

-describe and evaluate the effects of changes in structure of business organisations

Bsuinesses can grow... businesses can fail.. Businesses can gain economics or scale by large output... businesses can be effected because of external disecnomices of scale.

-describe what determines demand for FACTORS OF PRODUCTION

The aggregate demand for goods and services determines the demand for factors of production.

-describe the allocation of resources in market and mixed economic systems

Resources are allocated by private sector they have control.. they decide the prices.. they decide wat to produce in market/free economy... where as in mixed its both Government and Private sector.

-analyse the different motives for SPENDING
- discuss how and why different income groups have different expenditure patterns

Spending patterns differs with the incomes of the general public. It can be influenced by the government too.. either by increasing taxes or interest rates. High income group wud spend more on leisure items where as low incomes wud spend on basic items.

- describe the main reasons for the different sizes of firms

Sizes of firms depends on the type of industry they operate in... it can be measured by Capital employeed, Labour employeed, Sales turnover.

Ok.. now wat do u need to know... Structure of business organisations.... you wuld need to know why these change.. and wats the factor tht make them change.. it culd be owners' targets, for .e.g.

Demand for factors of production.. in there you wuld need to learn bits from demand and supply... and Basic Economic problem.. needs and wants..

Allocation of resources... you need to know advantages and this advantages for all the type of economic systems.

HOPE tht HELPS