Derived demand and veblen goods are both not explicitly tested either. The concepts behind them maybe are but I worry working with this material will make students/teachers think "define veblen good" or "derived demand" can show up on a test, which...
Demand worksheetThat's done Valli, thank you for letting me know about this.
Unit 2.3: Competitive market equilibriumHi, when I tried to access Class notes, I couldn't access Equilibrium; instead, another topic (Economic systems) is available. Could you please do the needful?
Unit 2.3: Competitive market equilibriumIt is median income, that is what I meant so let me change that.
InequalityThey are Kristina though I have seen the one in the response, with the explanation that it was a short run money supply curve. I would not award such a diagram full marks though. As for RWEs, they are necessary for part (b), just as in the 15-mark...
Sample 1Relative poverty - the condition in which people lack the minimum amount of income needed in order to maintain the average standard of living in the society in which they live. A person is described as relatively poor if they earn less than...
InequalityHello, For a) part of this question, why is the diagram for money market different from the one in syllabus? Should not be supply of money price inelastic, vertical line? And are the real world examples for a) part necessary as they are not...
Sample 1Ok, thank you so much for the clarification.
Unit 1: Revision quizHenrick, I have taken a look at the responses and I think they are correct, specifically: 3. A positive statement is one that cannot be refuted by looking at the evidence, i.e. can be proven or disproven by examining the evidence 5. Equally...
Unit 1: Revision quiz
Mark
Site authorI agree Ian and some students are very fussy also about not learning things they will need so I have changed them.
Demand worksheet