about 13 years ago - No comments
Image: Some rights reserved by Valerie Everett a) Exploring Supply and Demand by Kim Sosin – useful in that you can get feedback on the impacts on the Supply and Demand graph, shown on the right hand side of your browser. b) True/False Quiz hosted on a http://www.oup.com site. c) SELF-GRADING PRACTICE QUIZ #3 via…
about 13 years ago - No comments
In 2011, Thailand suffered one of its most destructive floods in history. This link will hopefully update with some accuracy to give this post some context in the future (at the time of writing, the floods are still very much underway): 2011 Thailand Floods on Wikipedia Due to a combination of reduced supply (as many…
about 13 years ago - No comments
This title refers to a lot of theory which it is worth having explained to you first by a teacher of Economics. Having looked at Aggregate Demand, we now introduce Aggregate Supply which gets a bit complicated with two different schools of thought, and we also need to refer to three possible different equilibrium situations…
about 13 years ago - No comments
This post is to add further resources on the concept of supply, for those who wish to follow up on this absolutely essential concept in Economics. First, however, I recommend you use the resources on this post to learn about supply: http://opengecko.com/economics/supply/ 1) Videos Supply by vaacon1 Creating a supply curve from a supply schedule…
about 13 years ago - No comments
This post is to add further resources on the concept of demand, for those who wish to follow up on this absolutely essential concept in Economics. First, however, I recommend you use the resources on this post to learn about demand: 1) Videos What is a demand curve? by Note – I think part of…
about 13 years ago - No comments
Credit: I came across this useful practice data response question via a student’s blog associated with this teacher’s site: http://www.peteranthony.org/wordpress/ Image: Some rights reserved by epicxero I think this is an excellent introduction to this 3rd paper which forms part of the IB Economics final assessment. The questions are straightforward, but you will need to…
about 14 years ago - 1 comment
From flickr.com. Uploaded on April 2, 2007 by SideLong Before starting to understand Price Elasticity of Supply, it is worth recapping Price Elasticity of Demand. Click on the following link: www.business2000.ie provides an interactive quiz on PED This site introduces the main concepts of Price Elasticity of Supply: Slideshow from http://www.econ.ucsb.edu This site gives a…
about 14 years ago - No comments
This section of the IB syllabus requires you to understand the following: Maximum price: causes and consequences Minimum price: causes and consequences Price support/buffer stock schemes Before learning about these concepts, it is first worth being sure of the following concepts: Consumer Surplus Producer Surplus The rest of this post gives you links to online…
about 14 years ago - No comments
Understand Demand? Understand Supply? Now we need both hands to clap, and when we put them together we can understand how prices are arrived at when market forces are left to their own devices (and also when they’re not). What Adam Smith called the invisible hand … you need to know this concept like the…
about 14 years ago - No comments
Introduction and summary by MJMFoodie: jodiecongirl runs through the determinants of supply: jodiecongirl explains movements along and shifts of the supply curve: Follow up activities to check your understanding: Original MS Powerpoint file here