help needed for Econmoices

eagle SG

wat to do?

i know its ture, but i still dont understand the question...LOL

It's a duh

It's the same question as

Explain the following terms:
- lazy
- unwilling to work
- waiting to be spoonfed

Google! Search! Wiki will already spoonfeed you the answer.

I really don't see how such questions cannot be understood. It's simple basic primary/secondary school way of asking you to explain and define basic terms.

And I have already given you the source where you can download RJC economic essays to take a look. Have you gone there and look? Some of these questions are answered there too.

At Homework Forum, we help students who are willing to learn and try out, students who are stuck in understanding concepts, not students who are waiting to be spoonfed on basic definition of terms and giving excuses why they cannot find the answers themselves.

Honestly, the following excuse is not what you should have given:

i know, but if i dont understand...

google cant do...LOL...maybe now i need to find my brain cell 1st, then i can understand them...

To score, you first have to take responsibility for yourself. I don't see that in you. You are still floundering around even though I have given you hints and guided you on how to go about doing it. Don't understand what I said, ask. Not give excuses.

Apologise if I sounded harsh, but my opinion is, if you want to score, be it in life or in school, you have to work hard for it.

Lee012lee SG

What is inflation ?

All notes, textbooks and google it will give you three key words ie inordinate, sustained general increase in the price level.

Next, the notes, textbooks, google it will explain their meanings ie inordinate ie excessive (not 0.1% increase), sustained ie over a period of time, general ie not due to only one or two but most.

Hence, inflation is defined as the inordinate, sustained, general increase in the price level (The definition of inflation as too much money chasing too few goods will only be partially correct).

In simple terms, inflation refers to the excessive increase in prices of most goods and services over a period of time usually over a year.

Next, you just have to ask yourself why prices of most goods and services will increase. The reasons for these prices to increase will be the causes of inflation lah.

So, it is not so difficult to answer the economic questions.

You just have to ask yourself what you read, have you understood them, if not, which part you do not understand, are the words or terms that you do not understand, check up the meanings on an economic dictionary or google it, summarize what you have read as you read.

Indeed, you can use the SQ3R method to study ie survey, question, read, recite and revise.

alvin-ncs SG

What is inflation ?

All notes, textbooks and google it will give you three key words ie inordinate, sustained general increase in the price level.

Next, the notes, textbooks, google it will explain their meanings ie inordinate ie excessive (not 0.1% increase), sustained ie over a period of time, general ie not due to only one or two but most.

Hence, inflation is defined as the inordinate, sustained, general increase in the price level (The definition of inflation as too much money chasing too few goods will only be partially correct).

In simple terms, inflation refers to the excessive increase in prices of most goods and services over a period of time usually over a year.

Next, you just have to ask yourself why prices of most goods and services will increase. The reasons for these prices to increase will be the causes of inflation lah.

So, it is not so difficult to answer the economic questions.

Indeed, you can use the SQ3R method to study ie survey, question, read, recite and revise.

ok...thanks...now i understand inflation...

deepak.c SG

ok...thanks...now i understand inflation...

In your own words,

Explain inflation?

alvin-ncs SG

It's a duh

It's the same question as

Explain the following terms:
- lazy
- unwilling to work
- waiting to be spoonfed

Google! Search! Wiki will already spoonfeed you the answer.

I really don't see how such questions cannot be understood. It's simple basic primary/secondary school way of asking you to explain and define basic terms.

And I have already given you the source where you can download RJC economic essays to take a look. Have you gone there and look? Some of these questions are answered there too.

Honestly, the following excuse is not what you should have given:

Apologise if I sounded harsh, but my opinion is, if you want to score, be it in life or in school, you have to work hard for it.

haix...i know i know,

problem is that even i can get the answer, i still dont understand the question and answer...

i just find it hard to understand the terms from books/notes/or net...

i'm just asking for a simple term, i'm sry ok?

eagle SG

haix...i know i know,

problem is that even i can get the answer, i still dont understand the question and answer...

i just find it hard to understand the terms from books/notes/or net...

i'm just asking for a simple term, i'm sry ok?

So which part of the definitions do you not understand?

How about this?

Price elasticity of demand is defined as the measure of responsiveness in the quantity demanded for a commodity as a result of change in price of the same commodity. It is a measure of how consumers react to a change in price. In other words, it is percentage change in quantity demanded as per the percentage change in price of the same commodity.

ChoCoChips SG

haix...i know i know,

problem is that even i can get the answer, i still dont understand the question and answer...

i just find it hard to understand the terms from books/notes/or net...

i'm just asking for a simple term, i'm sry ok?

u follow what deepak has said.

u type out what u think the definitions are.

without referring to any source.

dont cheat hor.

this kind u cheat oso no use one

alvin-ncs SG

So which part of the definitions do you not understand?

How about this?

wat i remember from wat i learn is that "price elasticity of demand is to measure how much the quantity demanded of the product is to change the price of the product..."

but even if i can remember this, i can seems to understand the meaning of it....

alvin-ncs SG

In your own words,

Explain inflation?

ok...i dont know if its right or wrong...

does it means that price will change due to the time, example the money value drop, last time meepok 50cent, but now 3 dollar...and last time 50cent = now $3...

alvin-ncs SG

or is there a more simple & better way to explain?

eagle SG

This is better. Next time at least say what u have learned and where did u stop understanding...

Let me try to explain in very basic E maths, cannot be used for your essays one hor...

You have learned what is a y=-x curve. In econs, y is the price, and x is the quantity demanded, something similar... just that the curve is shifted, i.e. y=-x+5

So, in that sense, elasticity of demand is something like the gradient. It is always in negative, because it is downward sloping. But it is nearly similar only, not totally the same hor... Just some tips for linkage...

When the elasticity is -1, it is unitary elastic. Means every change in price will result in an equally proportional change in quantity demanded.

Then the main gist here is about elasticity.

Value Meaning n = 0 Perfectly inelastic. −1 < n < 0 Relatively inelastic. n = −1 Unit (or unitary) elastic. −∞ < n < −1 Relatively elastic. n = −∞ Perfectly elastic.

Elastic means a price change will result in a lot a lot more change in quantity demanded. E.g. $1 increase in price will result in 2 less pple buying.

Then if even more elastic, $1 increase in price will result in 4 less pple buying

Perfectly elastic, $1 increase in price will result in 0 pple buying.

Example graph for perfectly elastic:

Similar for decrease in price.

Read your textbook for this part on how to use graphs to draw and show.

Inelastic means a price change will result in a lot a lot less change in quantity demanded. E.g. $1 increase in price will result in almost the same number pple buying. Means things that no choice, you still have to use. Example in Singapore would be... increase in bus fares or mrt fares, you still have to take it. Increase in prices of newspaper, increase in prices of cigarettes... The quantity demanded wouldn't change much no matter you increase or decrease the prices!

charlize SG

TS needs an econs teacher like master to patiently teach him economics.

alvin-ncs SG

This is better. Next time at least say what u have learned and where did u stop understanding...

Let me try to explain in very basic E maths, cannot be used for your essays one hor...

You have learned what is a y=-x curve. In econs, y is the price, and x is the quantity demanded, something similar... just that the curve is shifted, i.e. y=-x+5

When the elasticity is -1, it is unitary elastic. Means every change in price will result in an equally proportional change in quantity demanded.

Then the main gist here is about elasticity.

Value Meaning n = 0 Perfectly inelastic. −1 < n < 0 Relatively inelastic. n = −1 Unit (or unitary) elastic. −∞ < n < −1 Relatively elastic. n = −∞ Perfectly elastic.

Elastic means a price change will result in a lot a lot more change in quantity demanded. E.g. $1 increase in price will result in 2 less pple buying.

Then if even more elastic, $1 increase in price will result in 4 less pple buying

Perfectly elastic, $1 increase in price will result in 0 pple buying.

Example graph for perfectly elastic:

Similar for decrease in price.

Read your textbook for this part on how to use graphs to draw and show.

ok...sry that i just remember that, hmmm....i dont understand this part...

"Value Meaning n = 0 Perfectly inelastic. −1 < n < 0 Relatively inelastic. n = −1 Unit (or unitary) elastic. −∞ < n < −1 Relatively elastic. n = −∞ Perfectly elastic."

if there is perfect elasticy, is it good or bad...

sry to ask so much basic questions, as i this is my first time learning this...

alvin-ncs SG

TS needs an econs teacher like master to patiently teach him economics.

sry about that...

Master -_- SG

alvin..pm me ur msn..later tonight there will be a tete-a-tete between us ok

or u can buy my book

charlize SG

sry about that...

Aiya, I teach you easy way of remembering whether a dd or ss graph is PERFECTLY elastic or inelastic.

If the graph is a horizontal line like the one above in this page, visualize an infinity sign ∞ below it, it is a perfectly elastic dd or ss curve.

If the graph is a vertical line, visualize a long elongated 0 beside the line, it is a perfectly inelastic dd or ss curve.

Understand?

alvin-ncs SG

Aiya, I teach you easy way of remembering whether a dd or ss graph is PERFECTLY elastic or inelastic.

If the graph is a horizontal line like the one above in this page, visualize an infinity sign ∞ below it, it is a perfectly elastic dd or ss curve.

If the graph is a vertical line, visualize a long elongated 0 beside the line, it is a perfectly inelastic dd or ss curve.

Understand?

@[email protected]

wat is dd & ss?

charlize SG

What other things you need explanation for?

I try to explain to you in non textbook methods.

charlize SG

@[email protected]

wat is dd & ss?

Dd - demand. Ss - supply.

Remember them.

crimsontactics SG

@[email protected]

wat is dd & ss?

demand and supply

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