Final Reflection

April 6, 2011

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My weakness for the mock is the evaluation. I should be able to know the CRAMPS better and know real world examples. I should practice this using different articles and looking through past paper assignments. For revision, I am planning to look at past papers and review the economic book. I’m not sure of the […]

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definitions section 2: Microeconomics

February 23, 2011

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Markets: ①market: consumers and producers come together to establish equilibrium price & quantity for good/ service. (eg. market for MP3 players) ②demand: willingness & ability to purchase quantity of good or service at a certain price over a period of time ③law of demand: when price of good/service rise and quantity decreases. (ceteris paribus) ④cetris […]

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Reflection – End of Unit Test 1

February 10, 2011

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-I think I didn’t do a good job on this test, because I didn’t think that protectionism would be on the test. I thought more harder questions would be picked, so I was studying more harder on other topics. -The detailed comments on each mistake is really helpful to go over, and I was able […]

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Zambia Characteristics

February 2, 2011

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Definition ①GDP per capita: “the value of all final goods and services produced within a nation in a given year divided by the average (or mid-year) population for the same year.” ②Current Account Balance: ”sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer […]

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a) Explain the reasons why countries trade with each other b) Given the benefits of trade, evaluate the economic arguments in favour protectionism

January 19, 2011

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a) Explain the reasons why countries trade with each other Different factor endowments – some economies are rich in natural resources while others have relatively little. Trade enables economies to specialise in the export of some resources and earn revenue to pay for imports of other goods. Increased welfare – specialisation (where countries have a […]

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showcase

January 19, 2011

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Causes of Australia’s Current Account Deficit Posted on December 2, 2010 by kanamaeeconblog Australia’s current-accountdeficitincreased in three months in September. In the second quarter, the shortfall on goods, services, and investment went up from $5.41 billion Australian$ to 7.83 billion Australian$ ($7.55 billion). Exports dropped from July to September and the Australian currency increased 15 percent over this period. This […]

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improvement

January 19, 2011

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Quizzes    

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