List
| # | Chapter | Title | Explanation | Image | |
|---|---|---|---|---|---|
| 1 | Globalization | What is asset appreciation? | It refers to the increase... | Null | |
| 2 | Globalization | What is brain drain? | It refers to the flight... | Null | |
| 3 | Globalization | What is outsourcing? | It refers to a business... | Null | |
| 4 | Globalization | What is mobility of resources? | It refers to the ease... | Null | |
| 5 | Globalization | What are the limitations of outsourcing? | -Structural UN+ - certain sectors... | Null | |
| 6 | Globalization | How does outsourcing curb the negative effects of globalization? | -Expand the resource capacity for... | Null | |
| 7 | Globalization | What are the possible solutions to overcome the problems of globalization? | -Exchange rate management -Supply-side management -Manpower development/taxation... | Null | |
| 8 | Globalization | What are the impacts of globalization on Singapore? | -Structural unemployment -Inflation -Detrimental influence of international... | Null | |
| 9 | Globalization | What are the negative impacts of labor flows? | -Brain drain from source country -Drain... | Null | |
| 10 | Globalization | What are the benefits of labor flows? | -Equalization of wage – low... | Null | |
| 11 | Globalization | What are the negative impacts of capital flows for a source country? | -Reduction of GDP and decrease... | Null | |
| 12 | Globalization | What are the benefits of capital flows for a source country? | -Increase returns of investment –... | Null | |
| 13 | Globalization | What are the costs of capital flows for receiving country? | Cause appreciation of host countries... | Null | |
| 14 | Globalization | What are the positive of capital flows for receiving country? | -Higher rates of private investment... | Null | |
| 15 | Globalization | What are the determinants of Capital Flows? What are the determinants of Foreign Direct Investment (FDI)? | -Business Facilitation -Political and economic framework -Availability... | Null | |
| 16 | Globalization | What are negative impacts of globalization? | -Higher degree of competitiveness for... | Null | |
| 17 | Globalization | What are the benefits of globalization? | -Increased consumption and production possibilities -Promotes... | Null | |
| 18 | Globalization | What is a standard trading procedure? | With standardized procedures set by... | Null | |
| 19 | Globalization | What is international factor flows? | Flow of capital and labour... | Null | |
| 20 | Globalization | What is economic integration? | -Standard trading procedure -Smoothen the mobility... | Null | |
| 21 | Globalization | What is Foreign Direct Investment (FDI)? | Movement of capital that is... | Null | |
| 22 | Globalization | What is the flow of fund? | -Flow of short term capital... | Null | |
| 23 | Globalization | What is labor flow? | Movement of labour from countries... | Null | |
| 24 | Globalization | What is capital and labor flow? | Movement of FDI and foreign... | Null | |
| 25 | Globalization | What is globalization? | It involves the rapid increase... | Null | |
| 26 | International Trade | What is Production Possibility Curve (PPC)? | It refers to the a... | Null | |
| 27 | International Trade | What are exchange rate fluctuations? | It refers to the change... | Null | |
| 28 | International Trade | What is international trade? | It refers to the exchange... | Null | |
| 29 | International Trade | What is ‘retaliation’? | Also known as a form... | Null | |
| 30 | International Trade | What is a trade union? | It refers to an organization... | Null | |
| 31 | International Trade | What is transaction? | It refers to the movement... | Null | |
| 32 | International Trade | What is deregulation? | It refers to the reduction... | Null | |
| 33 | International Trade | What is mobility of resources? | It refers to the ease... | Null | |
| 34 | International Trade | What is taxation? | It refers to the compulsory... | Null | |
| 35 | International Trade | What is the Marshall-Lerner condition? | It refers to an economic... | Null | |
| 36 | International Trade | What is factor endowment? | It refers to the amount... | Null | |
| 37 | International Trade | What is emerging economy? What is a developing economy? | It refers to a growing... | Null | |
| 38 | International Trade | What is advanced economy? What is a developed economy | It refers to a highly-developed... | Null | |
| 39 | International Trade | What is production capacity? | It refers to the volume... | Null | |
| 40 | International Trade | What is an infant industry? | An industry that is just... | Null | |
| 41 | International Trade | What is balance of trade? | -It refers to the difference... | Null | |
| 42 | International Trade | What is export revenue? | Amount earned from exporting goods... | Null | |
| 43 | International Trade | What is common market? | An agreement where no tariff... | Null | |
| 44 | International Trade | What is preferential trade agreement (PTA)? | A trade agreement whereby trade... | Null | |
| 45 | International Trade | What is trade creation? | Arises when there is a... | Null | |
| 46 | International Trade | What is a custom union? | An agreement where no tariff... | Null | |
| 47 | International Trade | What is government procurement? | -Increase transparency of procurement process -Increase... | Null | |
| 48 | International Trade | What are intellectual property rights? | Encourage the growth research and... | Null | |
| 49 | International Trade | What is import expenditure? | Amount spent on importing goods... | Null | |
| 50 | International Trade | What are embargos? | Complete ban on certain imports... | Null | |
| 51 | International Trade | What are quotas? | Quantity restriction imposed on imported... | Null | |
| 52 | International Trade | What are tariffs? | Custom duties or tax on... | Null | |
| 53 | International Trade | What are exchange controls? | The control of amount of... | Null | |
| 54 | International Trade | How are subsidies used as an act of protectionism? | -Increase subsidies to local producers... | Null | |
| 55 |
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What are the benefits and limitations of free trade? | -Minimize conflicts between nations -Common market... | Null | |
| 56 | International Trade | What is ‘dumping’? | Foreign producers selling at a... | Null | |
| 57 | International Trade | What are Terms of Trade (TOT)? | Refers to the rate at... | Null | |
| 58 | International Trade | What are the factors that limit free trade? | -High transport cost -Lack of mobile... | Null | |
| 59 | International Trade | What are the impacts of international businesses? What are the impacts of foreign direct investment (FDI)? | -Facilitate transfer of knowledge and... | Null | |
| 60 | International Trade | What are the detrimental impacts Free Trade Agreements (FTAs) have on emerging economies? What are the detrimental impacts Free Trade Agreements (FTAs) have on developing nations? | -Increase the complexity of trade... | Null | |
| 61 | International Trade | What are the detrimental impacts Free Trade Agreements (FTAs) have on advanced economies? What are the detrimental impacts Free Trade Agreements (FTAs) have on developed nations? | -Increase the complexity of trade... | Null | |
| 62 | International Trade | How does Free Trade Agreements (FTAs) benefit emerging economies? How does Free Trade Agreements (FTAs) benefit developing economies? | -Raise the standard of living... | Null | |
| 63 | International Trade | How does Free Trade Agreements (FTAs) benefit advanced economies? How does Free Trade Agreements (FTAs) benefit developed nations? | -Raise the standard of living... | Null | |
| 64 | International Trade | What are the benefits and limitations of Free Trade Agreements (FTAs)? | -Minimize conflicts between nations -Common market... | Null | |
| 65 | International Trade | What is trade diversion? | Where a customs union results... | Null | |
| 66 | International Trade | Why should countries use protectionism? | -Protect growing industries -May help to... | Null | |
| 67 | International Trade | What methods of protectionism are there? | -Tariffs or Custom Duties -Quotas -Import Licenses -Embargos... | Null | |
| 68 | International Trade | What is protectionism? | The act of imposition of... | Null | |
| 69 | International Trade | What is import substitution strategy? | Strategy to replace imported goods... | Null | |
| 70 | International Trade | How do favorable terms of trade (TOT) affect an economy? | -If the favourable TOT is... | Null | |
| 71 | International Trade | How do Terms of Trade (TOT) affect the Production Possibility Curve (PPC)? | International trading price will make... | Null | |
| 72 | International Trade | What are the factors affecting terms of trade (TOT)? | -Lower prices of imports -Higher prices... | Null | |
| 73 | International Trade | What is Free Trade Agreement (FTA)? | A free trade agreement involves... | Null | |
| 74 | International Trade | What is the significance of Terms of Trade (TOT)? | -Affects BOT (Change in TOT... | Null | |
| 75 | International Trade | How to calculate terms of trade (TOT)? | For TOT Index: Index of... | Null | |
| 76 | International Trade | How to interpret terms of trade (TOT)? | -A country’s TOT worsens when... | Null | |
| 77 | International Trade | What are the advantages of diversification? | -Widen the scope of economic... | Null | |
| 78 | International Trade | Why should countries diversify their economic development? | -To avoid the disadvantages of... | Null | |
| 79 | International Trade | Why should countries trade? | -To overcome the lack of... | Null | |
| 80 | International Trade | What is dynamic comparative advantage? | Dynamic CA refers to the... | Null | |
| 81 | International Trade | What are the limitations of comparative advantage? Why the theory of comparative advantage cannot be used to explain the trade pattern? | -Countries will trade with another... | Null | |
| 82 | International Trade | What are the benefits of international trade? | -Countries can now reap the... | Null | |
| 83 | International Trade | What are the detriments of international trade? | -Increasing competition between countries leads... | Null | |
| 84 | International Trade | What is trading price? How is trading price derived? | It is derived from the... | Null | |
| 85 | International Trade | What is absolute advantage? | Absolute advantage is seen when... | Null | |
| 86 | International Trade | What are the conditions for specialization? | -2 countries -2 commodities -No transportation costs -No... | Null | |
| 87 | International Trade | What is the Theory of Comparative Advantage? What is comparative advantage? | Comparative advantage is seen when... | Null | |
| 88 | Foreign Exchange | What is per capita income? | It refers to the total... | Null | |
| 89 | Foreign Exchange | What is future value of saving? | It refers to the value... | Null | |
| 90 | Foreign Exchange | What is a basket of currency? | It refers to a selected... | Null | |
| 91 | Foreign Exchange | What is a trade-weighted exchange rate? | It refers to an index... | Null | |
| 92 | Foreign Exchange | What is mortgage loan? | It refers to a particular... | Null | |
| 93 | Foreign Exchange | What are official reserves? | It refers to the sum... | Null | |
| 94 | Foreign Exchange | What is a gradual and modest appreciation? | It refers to a steady... | Null | |
| 95 | Foreign Exchange | What is currency manipulation? | It refers to currency intervention... | Null | |
| 96 | Foreign Exchange | What is capital control? | It refers to a form... | Null | |
| 97 | Foreign Exchange | What is capital investment? | It refers to the allocation... | Null | |
| 98 | Foreign Exchange | What is capital accumulation? | It refers to the acquisition... | Null | |
| 99 | Foreign Exchange | How is exchange rate determined in a fixed exchange rate system? | In the fixed exchange rate... | Null | |
| 100 | Foreign Exchange | How is exchange rate determined in a managed-float exchange rate system? | In this exchange rate system,... | Null | |
| 101 | Foreign Exchange | What is the market equilibrium for foreign exchange? | It refers to the price... | Null | |
| 102 | Foreign Exchange | What is a flexible exchange rate system? | It refers to a fixed... | Null | |
| 103 | Foreign Exchange | What is the external value of a currency? | It refers to the value... | Null | |
| 104 | Foreign Exchange | How to prevent speculation of hot money? | The government can introduce capital... | Null | |
| 105 | Foreign Exchange | What is the real effective exchange rate (REER)? | NEER after taking into consideration... | Null | |
| 106 | Foreign Exchange | What is the nominal effective exchange rate (NEER)? | -Exchange rate that is determined... | Null | |
| 107 | Foreign Exchange | How is the Purchasing Power Parity (PPP) used? | Foreign exchange rate of the... | Null | |
| 108 | Foreign Exchange | What is Purchasing Power Parity (PPP)? | Exchange rate is determined by... | Null | |
| 109 | Foreign Exchange | What are the impacts of the depreciation of a currency? | -Rise in import price and... | Null | |
| 110 | Foreign Exchange | What are the impacts of the appreciation of a currency? | -Impact of exchange rate -Effect of... | Null | |
| 111 | Foreign Exchange | What are the reasons for exchange rate regulation? | -To reduce the uncertainty in... | Null | |
| 112 | Foreign Exchange | What is under-valuation? | Under-valuation refers to the condition... | Null | |
| 113 | Foreign Exchange | What is over-valuation? | Over-valuation refers to the condition... | Null | |
| 114 | Foreign Exchange | What are the determinants of exchange rate? | -Change in demand for local... | Null | |
| 115 | Foreign Exchange | What are the disadvantages of a fixed exchange rate system? | -Opportunity cost of having a... | Null | |
| 116 | Foreign Exchange | What are the advantages of a fixed exchange rate system? | -Removes uncertainty and discourages speculation... | Null | |
| 117 | Foreign Exchange | What is a fixed exchange rate system? | In the fixed exchange rate... | Null | |
| 118 | Foreign Exchange | What is a managed-float exchange rate system? | In this exchange rate system,... | Null | |
| 119 | Foreign Exchange | How is exchange rate determined in a flexible exchange rate system? | -The flexible exchange rate system... | Null | |
| 120 | Foreign Exchange | What are the disadvantages of a flexible exchange rate system? | -Uncertainty –Discourages trade and investment... | Null | |
| 121 | Foreign Exchange | What are the assumptions for a flexible exchange rate system? | Pedx + Pedm > 1 -Capital... | Null | |
| 122 | Foreign Exchange | What are the advantages of a flexible exchange rate system? | -Automatic stabilization: The BOP and... | Null | |
| 123 | Foreign Exchange | What is depreciation of a currency? | A decrease in value of... | Null | |
| 124 | Foreign Exchange | What is appreciation of a currency? | An increase in value of... | Null | |
| 125 | Balance of Payment | How to calculate exchange rate? | S$1 – US$0.82/ US$1 –S$1.22;... | Null | |
| 126 | Foreign Exchange | What is exchange rate? | The foreign exchange rate is... | Null | |
| 127 | Balance of Payment | What is remittance? | It refers to the transfer... | Null | |
| 128 | Balance of Payment | How to assess economic performance using balance of payment? | -From the current account, the... | Null | |
| 129 | Balance of Payment | How to calculate balance of payment? | The sum of the current... | Null | |
| 130 | Balance of Payment | What are the external impacts of a balance of payment disequilibrium? | -Fall in exchange rate of... | Null | |
| 131 | Balance of Payment | What are the internal impacts of a balance of payment disequilibrium? | -Inflationary impact on the economy -Fall... | Null | |
| 132 | Balance of Payment | What is the scope of impact when there is balance of payment surplus? | -Xd/Md/FDI/flow of fund – affect... | Null | |
| 133 | Balance of Payment | What are the impacts of balance of payment surplus on an external economy? | -Rise in exchange rate of... | Null | |
| 134 | Balance of Payment | What are the impacts of a balance of payment surplus on domestic economy? | -Increase in national income and... | Null | |
| 135 | Balance of Payment | What are the impacts of balance of payment deficit on an external economy? | -Fall in exchange rate of... | Null | |
| 136 | Balance of Payment | What are the impacts of balance of payment deficit on a domestic economy? | -Inflationary impact on the economy -Fall... | Null | |
| 137 | Balance of Payment | What are the factors affecting capital account? | -return on business -taxation policy -market demand-... | Null | |
| 138 | Balance of Payment | What are the factors affecting financial account? | -Interest rate- determined the return... | Null | |
| 139 | Balance of Payment | What are the factors affecting balance of trade? | -Inflation rate – affect cost... | Null | |
| 140 | Balance of Payment | What is visible balance? What is trade balance? | Balance of trade ... | Null | |
| 141 | Balance of Payment | What is income balance? | Remittance of profit and dividends ... | Null | |
| 142 | Balance of Payment | What is invisible balance? | Services... | Null | |
| 143 | Balance of Payment | What is the Marshall-Lerner condition? | Pedx + Pedm >1 ... | Null | |
| 144 | Balance of Payment | What is overvaluation of currency? | Overvaluation refers to the condition... | Null | |
| 145 | Balance of Payment | What is undervaluation of currency? | Undervaluation refers to the condition... | Null | |
| 146 | Balance of Payment | Why should the government not be concerned of a balance of payment deficit? | -A short and temporary BOP... | Null | |
| 147 | Balance of Payment | Why should the government be concerned of balance of payment disequilibrium? | -A long term and persistent... | Null | |
| 148 | Balance of Payment | What are the impacts of balance of payment disequilibrium? | -In the short-term, temporary and... | Null | |
| 149 | Balance of Payment | What are the factors affecting balance of payment disequilibrium? | -Relatively High Domestic Inflation -Relatively High... | Null | |
| 150 | Balance of Payment | What is balance of payment surplus? | Inflow of money will be... | Null | |
| 151 | Balance of Payment | What is balance of payment deficit? | Inflow of money will be... | Null | |
| 152 | Balance of Payment | What is the J-curve effect? | The effect of depreciation of... | Null | |
| 153 | Balance of Payment | How changes in balance of payment equilibrium affect exchange rate? | -Surplus in BOP – inflow... | Null | |
| 154 | Balance of Payment | What is the official financing account? | -An accommodating account that shows... | Null | |
| 155 | Balance of Payment | What is the overall balance? | The sum of the current... | Null | |
| 156 | Balance of Payment | What is the balancing item? | The balancing item is a... | Null | |
| 157 | Balance of Payment | What is financial account? | -Records investment overseas by local... | Null | |
| 158 | Balance of Payment | What is capital account? | All inflows and outflows of... | Null | |
| 159 | Balance of Payment | What is current account? | -Monetary transfer for exports and... | Null | |
| 160 | Balance of Payment | What are the components of balance of payment? | -Current Account -Capital Account (LT term... | Null | |
| 161 | Balance of Payment | What is balance of payment? | A statement of a country’s... | Null | |
| 162 | Aims of Government / Macroeconomic Policies | What are direct controls? | Income Policy (Reduce inflation)/Flexible Wage... | Null | |
| 163 | Aims of Government / Macroeconomic Policies | What is a flexible wage structure? | It refers to a system... | Null | |
| 164 | Aims of Government / Macroeconomic Policies | What is Marshall-Lerner condition? | It refers to an economic... | Null | |
| 165 | Aims of Government / Macroeconomic Policies | What are assets? | It refers to an output... | Null | |
| 166 | Aims of Government / Macroeconomic Policies | Why Singapore cannot conduct depreciation of exchange rate to solve the lack of external demand and Foreign Direct Investment (FDI)? | -Depreciation – rise in import... | Null | |
| 167 | Aims of Government / Macroeconomic Policies | Why does Singapore adopt an exchange rate management policy? | Ped export is price-inelastic –... | Null | |
| 168 | Aims of Government / Macroeconomic Policies | Why is monetary policy ineffective in Singapore? | -Singapore is an interest-rate taker... | Null | |
| 169 | Aims of Government / Macroeconomic Policies | What is trade facilities development? | The development of international air... | Null | |
| 170 | Aims of Government / Macroeconomic Policies | What is rising cost condition? What is inflationary condition? | This refers to a situation... | Null | |
| 171 | Aims of Government / Macroeconomic Policies | What are the benefits and limitations of price policies? | -Suppressing the symptoms of the... | Null | |
| 172 | Aims of Government / Macroeconomic Policies | What are price policies? | -Price ceiling set below equilibrium -May... | Null | |
| 173 | Aims of Government / Macroeconomic Policies | What are the benefits and limitations of direct controls? | -May face problems with militant... | Null | |
| 174 | Aims of Government / Macroeconomic Policies | What are the benefits and limitations of Free Trade Agreements (FTAs) | Benefits -Trade creation as removal of... | Null | |
| 175 | Aims of Government / Macroeconomic Policies | What is Free Trade Agreements (FTAs)? | -Deals struck, usually between 2... | Null | |
| 176 | Aims of Government / Macroeconomic Policies | What are embargos? | Total ban on particular good ... | Null | |
| 177 | Aims of Government / Macroeconomic Policies | What are exchange controls? | Control the amount of FOREX... | Null | |
| 178 | Aims of Government / Macroeconomic Policies | What are benefits and limitations of quotas? | -Quotas do not bring revenue... | Null | |
| 179 | Aims of Government / Macroeconomic Policies | What are quotas? | Quotas take the form of... | Null | |
| 180 | Aims of Government / Macroeconomic Policies | What are the benefits and limitations of subsidies? | It may lead to a... | Null | |
| 181 | Aims of Government / Macroeconomic Policies | What are subsidies? | -Fall in COP -fall in price... | Null | |
| 182 | Aims of Government / Macroeconomic Policies | What are the benefits and limitations of tariffs? | -Tariffs bring revenue to the... | Null | |
| 183 | Aims of Government / Macroeconomic Policies | What are tariffs? | A tariff is a tax... | Null | |
| 184 | Aims of Government / Macroeconomic Policies | What is supply-side fiscal policy? | -A set of government economic... | Null | |
| 185 | Aims of Government / Macroeconomic Policies | Why does Singapore introduce supply-side fiscal policy instead of demand-side fiscal policy? | – FP-affect AD-Demand-side implication –depending factors... | Null | |
| 186 | Aims of Government / Macroeconomic Policies | What are the benefits and limitations of technological development? | -Requires the facilities and pools... | Null | |
| 187 | Aims of Government / Macroeconomic Policies | What is technological development? | -Raise the technological level of... | Null | |
| 188 | Aims of Government / Macroeconomic Policies | What are the benefits and limitations of manpower development? | -Educational level of the workers... | Null | |
| 189 | Aims of Government / Macroeconomic Policies | What is manpower development? | Raise the productivity of the... | Null | |
| 190 | Aims of Government / Macroeconomic Policies | What are the benefits and limitations of capital accumulation? | -Requires financial knowledge and expertise -Political... | Null | |
| 191 | Aims of Government / Macroeconomic Policies | What is capital accumulation? | Creation of a financial centre... | Null | |
| 192 | Aims of Government / Macroeconomic Policies | What is trade facilities development? | The development of international air... | Null | |
| 193 | Aims of Government / Macroeconomic Policies | What are the benefits and limitations of infrastructural development? | -Source of funding - budget... | Null | |
| 194 | Aims of Government / Macroeconomic Policies | What is infrastructural development? | Build up facilities to attract... | Null | |
| 195 | Aims of Government / Macroeconomic Policies | What are the benefits and limitations of a weak exchange rate policy? | -Import prices would be higher... | Null | |
| 196 | Aims of Government / Macroeconomic Policies | What are the benefits and limitations of a strong exchange rate policy? | -Limit on how much exchange... | Null | |
| 197 | Aims of Government / Macroeconomic Policies | How does weak exchange rate policy work? | -Fall in exchange rate -... | Null | |
| 198 | Aims of Government / Macroeconomic Policies | How does strong exchange rate policy work? | -Increase in exchange rate -... | Null | |
| 199 | Aims of Government / Macroeconomic Policies | What is exchange rate management policy? | -The foreign exchange system attempts... | Null | |
| 200 | Aims of Government / Macroeconomic Policies | What are the benefits and limitations of a contractionary fiscal policy? | -Low multiplier- reduces effectiveness of... | Null | |
| 201 | Aims of Government / Macroeconomic Policies | What are the benefits and limitations of an expansionary fiscal policy? | -Low multiplier - reduces effectiveness... | Null | |
| 202 | Aims of Government / Macroeconomic Policies | How does contractionary fiscal policy work? | -It is used to curb... | Null | |
| 203 | Aims of Government / Macroeconomic Policies | How does expansionary fiscal policy work? | -It is used to solve... | Null | |
| 204 | Aims of Government / Macroeconomic Policies | What is fiscal policy? | The policy involves the variation... | Null | |
| 205 | Aims of Government / Macroeconomic Policies | What are the benefits and limitations of a contractionary monetary policy? | -Ineffective if the interest elasticity... | Null | |
| 206 | Aims of Government / Macroeconomic Policies | What are the benefits and limitations of expansionary monetary policy? | Benefits -Can create a more market-oriented... | Null | |
| 207 | Aims of Government / Macroeconomic Policies | How does contractionary monetary policy work? | When contractionary monetary policy is... | Null | |
| 208 | Aims of Government / Macroeconomic Policies | How does expansionary monetary policy work? | When expansionary monetary policy is... | Null | |
| 209 | Aims of Government / Macroeconomic Policies | What is monetary policy? | The policy involves the variation... | Null | |
| 210 | Aims of Government / Macroeconomic Policies | What is supply-side management policy? | -Through the implementation of the... | Null | |
| 211 | Aims of Government / Macroeconomic Policies | What is demand-side management policy? | It is a policy that... | Null | |
| 212 | Aims of Government / Macroeconomic Policies | What is jobless growth? | Situation where there is economic... | Null | |
| 213 | Aims of Government / Macroeconomic Policies | What is equal distribution of income? What is equity? | -Income distribution is measured by... | Null | |
| 214 | Aims of Government / Macroeconomic Policies | What is balance of payment equilibrium? | At BOP equilibrium, there is... | Null | |
| 215 | Aims of Government / Macroeconomic Policies | What is price stability? | -Price stability is measured by... | Null | |
| 216 | Aims of Government / Macroeconomic Policies | What is full employment? | Full employment would refer to... | Null | |
| 217 | Aims of Government / Macroeconomic Policies | What is sustainable economic growth? What is long-term growth? | An increase in real GDP... | Null | |
| 218 | Aims of Government / Macroeconomic Policies | What is economic growth? | Economic growth refers to the... | Null | |
| 219 | Aims of Government / Macroeconomic Policies | What are the aims of government? | Economic growth, full employment, balance... | Null | |
| 220 | Inflation | What is speculation? | It refers to the buying... | Null | |
| 221 | Inflation | What is core inflation? | It refers to the measurement... | Null | |
| 222 | Inflation | What are the possible solutions to curb inflation? | -Contractionary monetary policy -Contractionary fiscal policy -Strong... | Null | |
| 223 | Inflation | What is direct regulation? | It refers to the direct... | Null | |
| 224 | Inflation | What is rising cost condition? What is inflationary condition? | This refers to a situation... | Null | |
| 225 | Inflation | What is inflation rate? | The rate of inflation is... | Null | |
| 226 | Inflation | Why should inflation rate be kept low? Why is low inflation rate more important than other aims? | -Low inflation helps to prevent... | Null | |
| 227 | Inflation | How effective is direct regulation in curbing inflation? What are the limitations of direct regulation in curbing inflation? | Due to extensive government regulation... | Null | |
| 228 | Inflation | How can direct regulation curb inflation? | -Price control – Price ceiling... | Null | |
| 229 | Inflation | How effective is exchange rate management policy curb inflation? What are the limitations of exchange rate management policy curb inflation? | -Strong exchange rate makes import... | Null | |
| 230 | Inflation | How can exchange rate management policy curb inflation? | -The Central Bank will intervene... | Null | |
| 231 | Inflation | How effective is fiscal policy in curbing inflation? What are the limitations of fiscal policy in curbing inflation? | -Raising tax is a bad... | Null | |
| 232 | Inflation | How can fiscal policy curb inflation? | Fiscal policy in the contractionary... | Null | |
| 233 | Inflation | How effective is monetary policy in curbing inflation? What are the limitations of monetary policy in curbing inflation? | -Central Bank cannot control the... | Null | |
| 234 | Inflation | How can monetary policy curb inflation? | With contractionary MP, central bank... | Null | |
| 235 | Inflation | What are the negative impacts of inflation? | -Loss of international competitiveness -Balance of... | Null | |
| 236 | Inflation | What are the external factors of inflation? | -Loss of international competitiveness -Balance of... | Null | |
| 237 | Inflation | What are the internal factors of inflation? | -Impact on Investment, Production and... | Null | |
| 238 | Inflation | What is wage-price spiral? | It happens when powerful union... | Null | |
| 239 | Inflation | What is price-wage spiral? | It happens when big business... | Null | |
| 240 | Inflation | What is Consumer Price Index (CPI) | CPI measures relative changes in... | Null | |
| 241 | Inflation | What is cost of living index? | It measures the percentage change... | Null | |
| 242 | Inflation | What is cost of living? | A theoretical price index that... | Null | |
| 243 | Inflation | What is the external value of money? | The purchasing power of local... | Null | |
| 244 | Inflation | How to determine the internal value of money? | -Decrease in price level will... | Null | |
| 245 | Inflation | What is the internal value of money? | The purchasing power of a... | Null | |
| 246 | Inflation | What is tax-based inflation? | Increase in indirect tax like... | Null | |
| 247 | Inflation | What is imported inflation? | The rise in global price... | Null | |
| 248 | Inflation | What is asset-based inflation? | It occurs when there is... | Null | |
| 249 | Inflation | What are the various types of cost-push inflation? | Imported inflation Tax-based inflation Structural rigidities Asset-based inflation ... | Null | |
| 250 | Inflation | What is cost-push inflation? | It occurs when there is... | Null | |
| 251 | Inflation | What are structural rigidities? | It refers to the condition... | Null | |
| 252 | Inflation | What is demand-pull inflation? | It occurs when there is... | Null | |
| 253 | Inflation | How to calculate inflation rate? | Using consumer price index (CPI)... | Null | |
| 254 | Inflation | What is deflation? | A sustained, inordinate fall in... | Null | |
| 255 | Inflation | What is stagflation? | Stagflation is an economic situation... | Null | |
| 256 | Inflation | What is hyper inflation? | Extremely high inflation rate. (more... | Null | |
| 257 | Inflation | What is mild inflation? | Inflation rate is single digit... | Null | |
| 258 | Inflation | What is galloping inflation? | Price increasing beyond 2 digit... | Null | |
| 259 | Inflation | Why is there inflation? What are the causes of inflation? | -Galloping inflation -Mild inflation -Hyper-inflation -Demand-pull inflation -Cost-push inflation -Structural... | Null | |
| 260 | Inflation | What is inflation? | A sustained, inordinate and general... | Null | |
| 261 | Economic Growth | What is hot money? | It refers to money held... | Null | |
| 262 | Economic Growth | What is child mortality rate? | It refers to death of... | Null | |
| 263 | Economic Growth | What is literacy rate? | It refers to the rate... | Null | |
| 264 | Economic Growth | Why is there overheating of an economy? | The inability of production capacity... | Null | |
| 265 | Economic Growth | How do countries attract Foreign Direct Investment (FDI) | Establishing improved infrastructure, maintaining political... | Null | |
| 266 | Economic Growth | What is Foreign Direct Investment (FDI)? | It refers to direct investment... | Null | |
| 267 | Economic Growth | What are capital goods? | They are already-produced durable goods... | Null | |
| 268 | Economic Growth | What is physical capital? | It refers to factors of... | Null | |
| 269 | Economic Growth | What are raw materials? | It refers to basic material... | Null | |
| 270 | Economic Growth | What is capital flow? | It refers to the movement... | Null | |
| 271 | Economic Growth | What is sub-prime mortgage? | It refers to a type... | Null | |
| 272 | Economic Growth | What is inflationary condition? What is overheating of an economy? What is rising cost condition? | This refers to a situation... | Null | |
| 273 | Economic Growth | What is jobless growth? | -Situation where there is economic... | Null | |
| 274 | Economic Growth | What is a technical recession? What is economic recession? | It refers to an economic... | Null | |
| 275 | Economic Growth | Why is economic growth the most important aim? | -Economic growth provides government higher... | Null | |
| 276 | Economic Growth | What are the obstacles to economic growth? | -Lack of financing -Lack of capable... | Null | |
| 277 | Economic Growth | What is life expectancy? | Average age people are expected... | Null | |
| 278 | Economic Growth | What is Genuine Progress Indicator? | Genuine Progress Indicator (GPI) is... | Null | |
| 279 | Economic Growth | What is Gross Happiness Index? | Gross National Happiness (GNH) is... | Null | |
| 280 | Economic Growth | What is Gini co-efficient? | The Gini coefficient is a... | Null | |
| 281 | Economic Growth | What are the negative impacts of economic growth? Why should the government not focus excessively on economic growth? Why other aims are more important that economic growth? | -Current Opportunity Costs of Growth -May... | Null | |
| 282 | Economic Growth | What are the positive impacts of economic growth? | -Higher Standard of Living -Redistribution of... | Null | |
| 283 | Economic Growth | How to achieve desirable economic growth? | -Sustainable Growth -Dimensional and Diversified Development -Benefits... | Null | |
| 284 | Economic Growth | What are the determinants of economic growth? | -Physical Capital -Labour Resources -Land and Raw... | Null | |
| 285 | Economic Growth | What is the Production Possibility Curve (PPC)? | The PPC reflects the resource... | Null | |
| 286 | Economic Growth | What is sustainable economic growth? What is long-term growth? | Sustainable growth refers to the... | Null | |
| 287 | Economic Growth | What is actual growth? | -Actual economic growth refers to... | Null | |
| 288 | Economic Growth | What is potential growth? What is short-term growth? | Potential growth refers to the... | Null | |
| 289 | Economic Growth | How to measure economic growth? | Economic growth is usually measured... | Null | |
| 290 | Economic Growth | What is economic growth? | Economic growth refers to the... | Null | |
| 291 | National Income Accounting | What is budget deficit? | It refers to an economic... | Null | |
| 292 | National Income Accounting | What are economic indicators? | They are statistics that can... | Null | |
| 293 | National Income Accounting | What is labor productivity? | It refers to the amount... | Null | |
| 294 | National Income Accounting | What is productivity? | It refers to the measure... | Null | |
| 295 | National Income Accounting | What economic indicators are used? | Wage-to-GDP ratio, consumer price index,... | Null | |
| 296 | National Income Accounting | How to measure degree of openness of economy? | Openness can be seen in... | Null | |
| 297 | National Income Accounting | What is privatization? | The conversion of state-owned enterprises... | Null | |
| 298 | National Income Accounting | How does balance of trade imply improved standard of living? | The level of balance of... | Null | |
| 299 | National Income Accounting | How does economic growth indicate improvement in standard of living? | -The rise in GDP will... | Null | |
| 300 | National Income Accounting | What is the difference between nominal GDP and real GDP? What is the difference between nominal GNP and real GNP? | The difference is due to... | Null | |
| 301 | National Income Accounting | How to calculate wage-to-GDP ratio? | -Proportion of total wage earned... | Null | |
| 302 | National Income Accounting | How to calculate Gini Co-efficient ratio? | Measure of inequality of wealth/income... | Null | |
| 303 | National Income Accounting | What is export competitiveness? | Competition for export demand, seen... | Null | |
| 304 | National Income Accounting | What is the relationship between productivity, GDP rate and inflation rate? | -When government increases productivity, it... | Null | |
| 305 | National Income Accounting | What is the relationship between government expenditure and budget deficit? | -Rise in government expenditure/low government... | Null | |
| 306 | National Income Accounting | What is the relationship between FDI, export demand, import demand and real GDP? | FTA promotes export demand and... | Null | |
| 307 | National Income Accounting | What are the components of current account balance? | -Balance of Trade -Service Balance -Income Balance -Transfer... | Null | |
| 308 | National Income Accounting | What is the relationship between money supply, exchange rate and inflation rate? | Reduction in money supply will... | Null | |
| 309 | National Income Accounting | What is the relationship between exchange rate, foreign direct investment (FDI) flows and trade flows? | Appreciation of exchange rate will... | Null | |
| 310 | National Income Accounting | How to calculate nominal GNP? What is the equation for nominal GNP? (Formula) | GNP = GDP + Net... | Null | |
| 311 | National Income Accounting | How to calculate nominal GDP? What is the equation for nominal GDP? (Formula) | The formula for computing nominal... | Null | |
| 312 | National Income Accounting | Why is there a need to raise productivity? | Raising productivity will lower cost... | Null | |
| 313 | National Income Accounting | What is net factor income from abroad? | Net factor income from abroad... | Null | |
| 314 | National Income Accounting | What is the GDP deflator? | It is the ratio of... | Null | |
| 315 | National Income Accounting | How to measure standard of living of a country? | -Real per capita income -Composition production... | Null | |
| 316 | National Income Accounting | How to measure the competitive edge of a country? | -Wage rate -Cost of resources -Productivity -Exchange rate -Cost... | Null | |
| 317 | National Income Accounting | How to measure the economic performance of a country? | -The GDP growth rate or... | Null | |
| 318 | National Income Accounting | Why are there problems of the inaccuracy of national income figures? | Weak administrative system, double accounting... | Null | |
| 319 | National Income Accounting | Why does increase in GDP growth rate not imply improved standard of living? | -If the percentage increase in... | Null | |
| 320 | National Income Accounting | Why does higher GDP growth rate represent improved standard of living? | -Higher level of real per... | Null | |
| 321 | National Income Accounting | What is purchasing power parity (PPP)? | Exchange rate is determined by... | Null | |
| 322 | National Income Accounting | What are the difficulties in using national income to compare standard of living between two countries? What are the problems of space comparison? | -Different price structures -Different rates of... | Null | |
| 323 | National Income Accounting | What are the difficulties in determining national income? What are the problems of time comparison? | -Changes in price level -Growth of... | Null | |
| 324 | National Income Accounting | What are the limitations of GDP figures? | -The underground economy especially if... | Null | |
| 325 | National Income Accounting | What is potential production capacity? What is potential growth? | It refers to the expansion... | Null | |
| 326 | National Income Accounting | What is actual production capacity? What is actual growth? | It refers to the actualization... | Null | |
| 327 | National Income Accounting | What are the uses of national income figures? | -Measure economic growth -To derive the... | Null | |
| 328 | National Income Accounting | Why is there a need for diversification of economy? | -Widen scope of economic growth -Reduce... | Null | |
| 329 | National Income Accounting | What is space comparison? | Comparison of standard of living... | Null | |
| 330 | National Income Accounting | What is time comparison? | Comparison of standard of living... | Null | |
| 331 | National Income Accounting | What is wage-to-GDP ratio? | -Proportion of total wage earned... | Null | |
| 332 | National Income Accounting | What is Gini Co-efficient ratio? | -Measure of inequality of wealth/income... | Null | |
| 333 | National Income Accounting | What is real effective exchange rate? | Value of an individual country's... | Null | |
| 334 | National Income Accounting | What is nominal effective exchange rate? | Value of an individual country's... | Null | |
| 335 | National Income Accounting | What is exchange rate? | The measure of one country’s... | Null | |
| 336 | National Income Accounting | What is financial account? | Records flow of funds due... | Null | |
| 337 | National Income Accounting | What is capital account? | Records all inflows and outflows... | Null | |
| 338 | National Income Accounting | What is current account? | Records monetary transfer for exports... | Null | |
| 339 | National Income Accounting | What is balance of payment? | -Records the flow of currency... | Null | |
| 340 | National Income Accounting | What is balance of trade? | Revenue from exports less expenses... | Null | |
| 341 | National Income Accounting | How to calculate real GDP growth rate? | Economic Growth Rate – Inflation... | Null | |
| 342 | National Income Accounting | What real GDP growth rate? | The rate at which real... | Null | |
| 343 | National Income Accounting | What is GDP growth rate? | The amount at which GDP... | Null | |
| 344 | National Income Accounting | What is working population? | Refers to the proportion of... | Null | |
| 345 | National Income Accounting | What is labor force? | -Working population (both active and... | Null | |
| 346 | National Income Accounting | What is cost of living index? | A theoretical price index that... | Null | |
| 347 | National Income Accounting | What is cost of living? | The amount that is spent... | Null | |
| 348 | National Income Accounting | How is Consumer Price Index (CPI) used? | -It is used as a... | Null | |
| 349 | National Income Accounting | What is Consumer Price Index (CPI)? | Measures the change in price... | Null | |
| 350 | National Income Accounting | What is Measurement of Economic Welfare (MEW)? | -Measured the standard of living... | Null | |
| 351 | National Income Accounting | What is Human Development Index (HDI)? | -Measured the standard of living... | Null | |
| 352 | National Income Accounting | What is real per capita income? | Real income of an individual... | Null | |
| 353 | National Income Accounting | What is quantitative standard of living? | -Standard of living measured in... | Null | |
| 354 | National Income Accounting | What is qualitative standard of living? | Standard of living measured in... | Null | |
| 355 | National Income Accounting | What is standard of living? | Measures the average quality of... | Null | |
| 356 | National Income Accounting | What is personal disposable income? | -The flow of income available... | Null | |
| 357 | National Income Accounting | What is personal income? | The flow of income that... | Null | |
| 358 | National Income Accounting | What is Net Property Income from Abroad? | -Income earned by local firms... | Null | |
| 359 | National Income Accounting | What is meant by ‘GDP at 2000 base year price level’? | -Real GDP -The real value of... | Null | |
| 360 | National Income Accounting | What is real Gross National Product (GNP)? | The real value of all... | Null | |
| 361 | National Income Accounting | What is nominal Gross National Product (GNP)? | -The monetary value of all... | Null | |
| 362 | National Income Accounting | What is real Gross Domestic Product (GDP)? | The real value of all... | Null | |
| 363 | National Income Accounting | What is nominal Gross Domestic Product (GDP)? | -The monetary value of all... | Null | |
| 364 | Market Failure | What is bureaucratic inefficiency? | Bureaucratic inefficiency arises from the... | Null | |
| 365 | Market Failure | Why parks and overhead bridges public goods are while hospitals and primary school education merit goods? | - Parks and overhead bridges... | Null | |
| 366 | Market Failure | Why is government intervention ineffective in solving market failure? | Distortions that Arise because of... | Null | |
| 367 | National Income Accounting | Why does the government conduct direct provision of public museums but not university education? | - Public museums have a... | Null | |
| 368 | Market Failure | How does carbon permit works in curbing air pollution? | The carbon permit involves the... | Null | |
| 369 | Market Failure | What are the benefits and limitations of moral suasion? | Benefits - Provide discretionary power to... | Null | |
| 370 | Market Failure | What is moral suasion? | Moral suasion is a persuasion... | Null | |
| 371 | Market Failure | What is market failure? | Market failure refers to the... | Null | |
| 372 | Market Failure | What are the disadvantages of a free market economy? | -Prone to market failure -Public goods... | Null | |
| 373 | Market Failure | What are the advantages of a free market economy? | -Reduced welfare loss -Firms are more... | Null | |
| 374 | Market Failure | What are the features of a free market economy? | •Private ownership of property •Freedom of... | Null | |
| 375 | Market Failure | What is a free market economy? | A free market is a... | Null | |
| 376 | Market Failure | What is market mechanism? | It focuses on the use... | Null | |
| 377 | Market Failure | What is cost-benefit analysis? | Cost-benefit analysis (CBA) is a... | Null | |
| 378 | Market Structure | What are the impacts of intellectual property right on the society? | Intellectual property rights create market... | Null | |
| 379 | Market Structure | What are the impacts of licensing on the society? | Licensing raises the cost condition... | Null | |
| 380 | Market Structure | What is cost condition? | Cost condition refers to the... | Null | |
| 381 | Market Structure | How does a monopolistic competitive firm attain production equilibrium? Q. How does the firms in monopolistic competition set price and output level? | Under this market structure, the... | Null | |
| 382 | Market Structure | How does an oligopolistic firm attain production equilibrium? How does the firms in oligopoly set price and output level? | Under this market structure, the... | Null | |
| 383 | Market Structure | How does a monopoly attain production equilibrium? How does the monopoly set price and output level? | Under this market structure, the... | Null | |
| 384 | Market Structure | How does a perfect competitive firm attain production equilibrium? How does the firms in perfect competition set price and output level? | Allocative and production efficiency can... | Null | |
| 385 | Market Structure | What is perfect mobility of factors of production? | Perfect mobility refers to the... | Null | |
| 386 | Market Structure | How is welfare loss incurred under imperfect market structures? | Under imperfect market structures, the... | Null | |
| 387 | Market Structure | What is price rigidity? | Price rigidity is a situation... | Null | |
| 388 | Market Structure | What is mutual inter-dependency? | It is a situation (usually... | Null | |
| 389 | Market Structure | What is liberalization of market? | Liberalisation of market refers to... | Null | |
| 390 | Market Structure | What are the impacts of intellectual property right on the firm? | Intellectual property rights are a... | Null | |
| 391 | Market Structure | What is intellectual property right? | A work or invention that... | Null | |
| 392 | Market Structure | What are the impacts of patent right on the firm? | Patent rights are a form... | Null | |
| 393 | Market Structure | What are the impacts of patent right on consumers? | -Patent rights increases firms’ ability... | Null | |
| 394 | Market Structure | How does patent right affect production equilibrium? | Patent rights are a form... | Null | |
| 395 | Market Structure | How does patent right affect market power? | Patent rights are a form... | Null | |
| 396 | Market Structure | What is patent right? | When firms have a new... | Null | |
| 397 | Market Structure | What is low-cost price leader? | Low-cost price leader is a... | Null | |
| 398 | Market Structure | What is barometric price leader? | Barometric price leader is a... | Null | |
| 399 | Market Structure | What is a collusive oligopoly? | -Firms in the industry make... | Null | |
| 400 | Market Structure | What is Free Competition Act? | Free Competition Act is a... | Null | |
| 401 | Market Structure | What is anti-trust law? | Competition law, known in the... | Null | |
| 402 | Market Structure | What is price regulation? | Price regulation refers to government... | Null | |
| 403 | Market Structure | What is legalization? | It is the process of... | Null | |
| 404 | Market Structure | What is nationalization? | It refers to the public... | Null | |
| 405 | Market Structure | What is consumer exploitation? | Firms with market power can... | Null | |
| 406 | Market Structure | Under what circumstances should the government regulate monopolies? | Where there is market dominance,... | Null | |
| 407 | Market Structure | How should the government regulate monopolies? | -MC pricing -Two tier charge ... | Null | |
| 408 | Market Structure | Why does natural monopoly exist? | Capital intensive industries, like the... | Null | |
| 409 | Market Structure | What is a natural monopoly? | A natural monopoly is a... | Null | |
| 410 | Market Structure | What is marginal cost (MC) pricing? | MC pricing is a price... | Null | |
| 411 | Market Structure | What is two-tier charge? | Two tier charge refers to... | Null | |
| 412 | Market Structure | What is cost minimization? | All firms will try to... | Null | |
| 413 | Market Structure | What is profit maximization? | Profit maximization is the process... | Null | |
| 414 | Market Structure | Why are firms profit-motivated? | Firms are profit-motivated as it... | Null | |
| 415 | Market Structure | Why are imperfect market structures unable to attain production efficiency in the short run? | The firms are unlikely to... | Null | |
| 416 | Market Structure | Why are imperfect market structures unable to attain allocative efficiency in the short run? | The firms will not be... | Null | |
| 417 | Market Structure | Explain how the firms in the non-collusive oligopolistic market determine price and output decision. | This model explains why once... | Null | |
| 418 | Market Structure | What is product differentiation? | It involves making artificial changes... | Null | |
| 419 | Market Structure | What are the types of non-price competition? | -product differentiation -advertising -research and... | Null | |
| 420 | Market Structure | What is non-price price competition? | It occurs when firms compete... | Null | |
| 421 | Market Structure | What is predatory pricing? | Predatory pricing is a deliberate... | Null | |
| 422 | Market Structure | What are the limitations of price competition? | It might take a long... | Null | |
| 423 | Market Structure | What are the benefits of price competition? | It can successfully rule out... | Null | |
| 424 | Market Structure | What is price competition? | It occurs when firms in... | Null | |
| 425 | Market Structure | Is price discrimination feasible in the pharmacuetical industry. | -Two or more prices being... | Null | |
| 426 | Market Structure | What are the positive impacts of price discrimination? | -Price discrimination makes it possible... | Null | |
| 427 | Market Structure | What are the negative impacts of price discrimination? | -It may be a form... | Null | |
| 428 | Market Structure | What is 3rd degree price discrimination? | The firm sells the same... | Null | |
| 429 | Market Structure | What is 2nd degree price discrimination? | The firm charges different prices... | Null | |
| 430 | Market Structure | What is 1st degree price discrimination? | This happens when a firm... | Null | |
| 431 | Market Structure | What is contrived barrier? | Contrived barrier is achieved when... | Null | |
| 432 | Market Structure | What is price discrimination? | -Price discrimination: the practice of... | Null | |
| 433 | Market Structure | Explain how market power affects the production equilibrium. | The greater the market power... | Null | |
| 434 | Market Structure | Explain how market power affects the price and output level. | The greater market power a... | Null | |
| 435 | Market Structure | What is market power? | Market power refers to the... | Null | |
| 436 | Market Structure | What profits can be reaped in a monopolistic competition long run? | Normal profits... | Null | |
| 437 | Market Structure | What profits can be reaped in an oligopoly long run? | Supernormal or normal profits... | Null | |
| 438 | Market Structure | What profits can be reaped by a monopoly in the long run? | Supernormal profits... | Null | |
| 439 | Market Structure | What profits can be reaped in a perfect competition in the long run? | Normal profits... | Null | |
| 440 | Market Structure | Why will firms in monopolistic competition reap only normal profit in the long run? | Firms in monopolistic competition reap... | Null | |
| 441 | Market Structure | What is x-inefficiency? | X-inefficiency is the difference between... | Null | |
| 442 | Market Structure | Forms of Efficiency | Allocative efficiency is a type... | Null | |
| 443 | Market Structure | What is supernormal profit? | Profit is greater than cost... | Null | |
| 444 | Market Structure | What is normal profit? | Cost is equal to profit... | Null | |
| 445 | Market Structure | What is subnormal profit? | Cost is greater than profit... | Null | |
| 446 | Market Structure | What are the characteristics of a monopolistic competitive firm? | -large numbers of buyers and... | Null | |
| 447 | Market Structure | What are the characteristics of an oligopolistic firm? | -small numbers of large firms... | Null | |
| 448 | Market Structure | What are the characteristics of a monopoly? | -single producer -no close substitutes... | Null | |
| 449 | Market Structure | What are the characteristics of a perfect competitive firm? | -large number of buyers and... | Null | |
| 450 | Market Structure | What is market concentration ratio? | Market concentration ratio is the... | Null | |
| 451 | Market Structure | What is perfect market information? | Every seller knows the prices... | Null | |
| 452 | Market Structure | What is a Monopolistic Competitive Market? | In the monopolistic competitive market... | Null | |
| 453 | Cost of Production | What is an Oligopoly? | In the oligopolistic form of... | Null | |
| 454 | Market Structure | What is a Monopoly? | In the monopoly form of... | Null | |
| 455 | Market Structure | What is Perfect Competition Market Structure? | With perfect competition, there is... | Null | |
| 456 | Market Structure | What is an imperfect market structure? | In the imperfect market structure,... | Null | |
| 457 | Market Structure | What is a perfect market structure? | In the perfect market structure,... | Null | |
| 458 | Cost of Production | What is marginal product? | MP is the additional change... | Null | |
| 459 | Cost of Production | What is production condition? | Short Run: - Production Condition... | Null | |
| 460 | Cost of Production | What are variable factors of production? | These are factors of production... | Null | |
| 461 | Cost of Production | What are fixed factors of production? | These are factors of production... | Null | |
| 462 | Cost of Production | What are factors of production? | The resources used for production... | Null | |
| 463 | Cost of Production | What is the Law of Variable proportion? | The law of variable proportion... | Null | |
| 464 | Cost of Production | What is the Law of diminishing marginal returns? | The law of diminishing marginal... | Null | |
| 465 | Cost of Production | What is the production law? | The production law measures the... | Null | |
| 466 | Market Structure | What is specialisation of production? | Specialization of production is a... | Null | |
| 467 | Cost of Production | How does source of efficiency influence the law of production in long run? | In the long run, the... | Null | |
| 468 | Cost of Production | How does source of efficiency influence the law of production in the short run? | In the short run, the... | Null | |
| 469 | Cost of Production | What are the positive impacts of merger on consumers? | -Cost savings which are passed... | Null | |
| 470 | Cost of Production | What are the negative impacts of merger on consumers? | -Higher prices for consumers as... | Null | |
| 471 | Cost of Production | What are the negative impacts of merger on firms? | -Complexity in management -Time lag in... | Null | |
| 472 | Market Structure | What are the positive impacts of merger on firms? | -Able to reap internal economies... | Null | |
| 473 | Cost of Production | What are negative impacts of small firms on consumers and society? | -Higher price of obtaining goods... | Null | |
| 474 | Cost of Production | What are positive impacts of small firms on consumers and society? | -Convenience for consumers as small... | Null | |
| 475 | Cost of Production | How does rise in productivity affect cost condition? | Rise in productivity decreases the... | Null | |
| 476 | Cost of Production | How does the implementation of research and development affect cost condition? | R&D increases the cost of... | Null | |
| 477 | Cost of Production | What is vertical integration? | It occurs when a merger... | Null | |
| 478 | Cost of Production | What is horizontal integration? | It occurs when firm takes... | Null | |
| 479 | Cost of Production | What is a niche market? | It is a subset of... | Null | |
| 480 | Cost of Production | How can small firms survive? | Through strategies like: -banding -targeting niche markets -providing... | Null | |
| 481 | Cost of Production | What is merger? | When two firms merge, a... | Null | |
| 482 | Cost of Production | What is acquisition? | Acquisition refers to a company... | Null | |
| 483 | Cost of Production | How do external economies of scale affect the average cost of production? | External economies of scale are... | Null | |
| 484 | Cost of Production | How do the internal economies of scale affect average cost of production? | Internal economies of scale are... | Null | |
| 485 | Cost of Production | What is law of diminishing returns/ law of variable proportion? | It states that as more... | Null | |
| 486 | Cost of Production | What are the disadvantages of large firms? | -Complexity of management -Less innovation... | Null | |
| 487 | Cost of Production | What are the advantages of large firms? | -Able to reap internal economies... | Null | |
| 488 | Cost of Production | What is division of labour? | Division of Labour is the... | Null | |
| 489 | Cost of Production | What is low-labor morale? | Low labour morale refers to... | Null | |
| 490 | Cost of Production | What is bureaucratic red-tape? | Red tape is excessive regulation... | Null | |
| 491 | Cost of Production | What is decreasing returns to scale? | Output increases less than proportionately... | Null | |
| 492 | Cost of Production | What is constant return to scale? | Output increases proportionately to the... | Null | |
| 493 | Cost of Production | What is increasing returns to scale? | Output increases more than proportionately... | Null | |
| 494 | Cost of Production | Why the firms cannot increase the scale of production excessively? | The long run average cost... | Null | |
| 495 | Cost of Production | Why firms need to reap economies of scale? What are the benefits of economies of scale? | Economies of scale are closely... | Null | |
| 496 | Cost of Production | What are the types of external diseconomies of scale? | -Concentration of resources and facilities -Concentration... | Null | |
| 497 | Cost of Production | What are the types of internal diseconomies of scale? | -Administrative DEOS -Managerial DEOS -Hierarchy Alienation... | Null | |
| 498 | Cost of Production | What are the types of external economies of scale? | -Economies of concentration -Economies of disintegration -Economies... | Null | |
| 499 | Cost of Production | What are the types of internal economies of scale? | -Technical EOS -Managerial EOS -Financial EOS -Commercial EOS -Risk-bearing... | Null | |
| 500 | Cost of Production | What are economies of scale? | Cost savings accrued to a... | Null | |
| 501 | Cost of Production | What is average product? | AP is derived from the... | Null | |
| 502 | Cost of Production | What is marginal product? | MP is the additional change... | Null | |
| 503 | Cost of Production | What is average fixed cost? | It is the amount of... | Null | |
| 504 | Cost of Production | What is average variable cost? | It is the total variable... | Null | |
| 505 | Cost of Production | What is fixed cost? | Cost of production that is... | Null | |
| 506 | Cost of Production | What is variable cost? | Cost that incurred due to... | Null | |
| 507 | Cost of Production | What are the fixed factors of production? | These are factors of production... | Null | |
| 508 | Cost of Production | What are the variable factors of production? | These are factors of production... | Null | |
| 509 | Cost of Production | What is long run? | All the factors of production... | Null | |
| 510 | Cost of Production | What is short run? | The firm is constrained by... | Null | |
| 511 | Government Regulation | What is deadweight loss? | Deadweight loss is the sum... | Null | |
| 512 | Government Regulation | What is producer surplus? | Producer surplus is the difference... | Null | |
| 513 | Government Regulation | What is consumer surplus? | Consumer surplus is the difference... | Null | |
| 514 | Government Regulation | What is lump sum subsidy? | A fixed amount of subsidy... | Null | |
| 515 | Government Regulation | What is Ad Valorem or percentage subsidy? | Ad Valorem subsidies a percentage... | Null | |
| 516 | Government Regulation | What is specific subsidy or per unit subsidy? | Specific subsidy is a constant... | Null | |
| 517 | Government Regulation | What is subsidy? | Subsidy is a payment to... | Null | |
| 518 | Government Regulation | What is ad valorem tax? | A tax based on the... | Null | |
| 519 | Government Regulation | What are the problems with price ceiling? | Occurrence of black market... | Null | |
| 520 | Government Regulation | What are the factors that will affect the effectiveness of price ceiling? | Elasticity of demand and supply... | Null | |
| 521 | Government Regulation | Why do government impose price ceiling? | A price ceiling is usually... | Null | |
| 522 | Government Regulation | How does the government set maximum price? | A maximum price is set... | Null | |
| 523 | Government Regulation | What are the problems with floor price? | -With the surpluses, government will... | Null | |
| 524 | Cost of Production | What are the factors that will affect the effectiveness of floor price? | elasticity of demand and supply... | Null | |
| 525 | Government Regulation | Why do government impose floor price? | -protect the income of producers... | Null | |
| 526 | Government Regulation | How does the government set minimum price? | The minimum price is set... | Null | |
| 527 | Government Regulation | What is producer tax burden? | Tax incidence that falls on... | Null | |
| 528 | Cost of Production | What is consumer tax burden? | Tax incidence that falls on... | Null | |
| 529 | Government Regulation | What is tax incidence? | Tax incidence refers to the... | Null | |
| 530 | Cost of Production | What is indirect tax? | Indirect tax is tax levied... | Null | |
| 531 | Government Regulation | What is direct tax? | Direct tax is directly levied... | Null | |
| 532 | Government Regulation | What is floor price? | -Minimum price set artificially so... | Null | |
| 533 | Government Regulation | What is price ceiling? | -A maximum price set artificially... | Null | |
| 534 | Government Regulation | What is price regulation? | Price regulation is a policy... | Null | |
| 535 | Income & Cross Elasticity of Demand | What is the formula of Cross Elasticity of Demand? How to calculate the cross elasticity. | CED = Percentage change in... | Null | |
| 536 | Income & Cross Elasticity of Demand | What is the formula of Income elasticity of demand? How to calculate the income elasticity of demand? | YED = Percentage change... | Null | |
| 537 | Income & Cross Elasticity of Demand | What are the uses of cross elasticity of demand? | -To Determine the Relationship of... | Null | |
| 538 | Income & Cross Elasticity of Demand | What are the uses of income elasticity of demand? | -Provide information on how the... | Null | |
| 539 | Income & Cross Elasticity of Demand | What are the determinants of cross elasticity of demand? | -Relationship of the Goods -Market Classification... | Null | |
| 540 | Income & Cross Elasticity of Demand | What are the determinants of income elasticity of demand? | -The Proportion of Income Spent... | Null | |
| 541 | Income & Cross Elasticity of Demand | What is Cross-Elasticity of Demand? | Cross elasticity of demand measures... | Null | |
| 542 | Income & Cross Elasticity of Demand | What is Income Elasticity of Demand? | Income elasticity of demand measures... | Null | |
| 543 | Price Elasticity of Demand and Supply | What is the formula of Price elasticity of Supply? How to calculate the cross elasticity of supply. | PES = ... | Null | |
| 544 | Price Elasticity of Demand and Supply | What is the formula of Price elasticity of Demand? How to calculate the price elasticity of demand. | PED = ... | Null | |
| 545 | Price Elasticity of Demand and Supply | How do the concept of price elasticity of demand and supply affect producer surplus (benefit)? | When supply is price-inelastic, there... | Null | |
| 546 | Price Elasticity of Demand and Supply | What are the disadvantages for keeping price high? | When the demand is price-elastic,... | Null | |
| 547 | Price Elasticity of Demand and Supply | What are the advantages for keeping price high? | When demand is price-inelastic, keeping... | Null | |
| 548 | Price Elasticity of Demand and Supply | What are the disadvantages for keeping price low? | When demand is price-inelastic, keeping... | Null | |
| 549 | Price Elasticity of Demand and Supply | What are the advantages for keeping price low? | When the demand is price-elastic,... | Null | |
| 550 | Price Elasticity of Demand and Supply | How do elasticity concepts affect market equilibrium? | It explains why the price... | Null | |
| 551 | Price Elasticity of Demand and Supply | How do the concept of price elasticity of demand and supply affect consumer surplus (benefit)? | When demand is price-inelastic, there... | Null | |
| 552 | Price Elasticity of Demand and Supply | How the concept of price elasticity of demand and supply affect the trade balance? What is Marshal-Lerner condition? | Marshal-Lerner Condition refers to the... | Null | |
| 553 | Price Elasticity of Demand and Supply | Why price will rise sharply due to the magnitude of price elasticity of demand and supply? | Under a price-inelastic supply, a... | Null | |
| 554 | Price Elasticity of Demand and Supply | How do the concept of price elasticity of demand and supply affect the producer tax burden? | If goods have high PED... | Null | |
| 555 | Price Elasticity of Demand and Supply | How do the concept of price elasticity of demand and supply affect the consumer tax burden? | If good to be taxed... | Null | |
| 556 | Price Elasticity of Demand and Supply | What are the limitations of elasticity of demand and supply? | -Magnitude of the value of... | Null | |
| 557 | Price Elasticity of Demand and Supply | What are the uses of price elasticity of supply? | It depicts the extent of... | Null | |
| 558 | Price Elasticity of Demand and Supply | What are the uses of price elasticity of demand? | -To Determine the Relationship of... | Null | |
| 559 | Price Elasticity of Demand and Supply | How are elasticity concepts useful for government policymaking? | Elasticity concepts can help the... | Null | |
| 560 | Price Elasticity of Demand and Supply | Why are firms unable to keep prices low in the long run? | In the long run, prices... | Null | |
| 561 | Price Elasticity of Demand and Supply | How to use the concept of price elasticity of demand to maximize total revenue? | -When demand for good is... | Null | |
| 562 | Price Elasticity of Demand and Supply | What are the determinants of Price elasticity of demand? | -Degree of Necessity -Availability of Substitutes -Proportion... | Null | |
| 563 | Price Elasticity of Demand and Supply | What are the determinants of Price elasticity of supply? | -Determinants of Price Elasticity of... | Null | |
| 564 | Price Elasticity of Demand and Supply | What do the various magnitudes of elasticity of supply represent? | 1 : Supply is price... | Null | |
| 565 | Price Elasticity of Demand and Supply | What do the various magnitudes of price elasticity of demand represent? | 1 : Demand is price... | Null | |
| 566 | Price Elasticity of Demand and Supply | What is Price Elasticity of Supply? | Price elasticity of supply measures... | Null | |
| 567 | Price Elasticity of Demand and Supply | What is Price Elasticity of Demand? | Price elasticity of demand measures... | Null | |
| 568 | Theory Demand and Supply | What is producer benefit? | Producer benefit refers to the... | Null | |
| 569 | Theory Demand and Supply | What is consumer benefit? | Consumer benefit refers to the... | Null | |
| 570 | Theory Demand and Supply | Explain the concept of law of diminishing marginal utility. | The law of diminishing marginal... | Null | |
| 571 | Theory Demand and Supply | Why do prices fall when there is a glut? (Excess Supply Condition) | A shortage means that demand... | Null | |
| 572 | Theory Demand and Supply | What is fixed supply? | Fixed supply refers to the... | Null | |
| 573 | Theory Demand and Supply | What is composite demand? | Composite demand is the demand... | Null | |
| 574 | Theory Demand and Supply | What is the income effect? | The effect of a change... | Null | |
| 575 | Theory Demand and Supply | What is the substitution effect? | The effect of a change... | Null | |
| 576 | Theory Demand and Supply | Why is the demand curve downward sloping? | The demand curve in downward... | Null | |
| 577 | Theory Demand and Supply | What are the non-price determinants of supply? | -Costs of production -Price of related... | Null | |
| 578 | Theory Demand and Supply | What are the non-price determinants of demand? | -Taste and preferences -Real disposable income -Population -Government... | Null | |
| 579 | Theory Demand and Supply | What is market equilibrium? | A situation in which buyers... | Null | |
| 580 | Theory Demand and Supply | What is the meaning of excess supply condition? | It occurs when there is... | Null | |
| 581 | Theory Demand and Supply | Why do prices rise when there is a shortage? (Excess Demand condition) | A shortage means that demand... | Null | |
| 582 | Theory Demand and Supply | What is consumer surplus? | Consumers’ surplus is the difference... | Null | |
| 583 | Theory Demand and Supply | What is competitive supply? | Competitive supply occurs when increase... | Null | |
| 584 | Theory Demand and Supply | What is joint supply? | Goods produced together from the... | Null | |
| 585 | Theory Demand and Supply | What is derived demand? | Some goods are demanded not... | Null | |
| 586 | Theory Demand and Supply | What is joint demand? | Goods that are jointly demanded,... | Null | |
| 587 | Theory Demand and Supply | What is competitive demand? | Goods are in competitive demand... | Null | |
| 588 | Theory Demand and Supply | What is a luxury good? | Luxury goods are products and... | Null | |
| 589 | Theory Demand and Supply | What is a normal good? | Normal goods are any goods... | Null | |
| 590 | Theory Demand and Supply | What is an inferior good? | An inferior good is a... | Null | |
| 591 | Theory Demand and Supply | What is subsidy? | Subsidy is a payment to... | Null | |
| 592 | Theory Demand and Supply | What is specific tax? | Specific tax, is a tax... | Null | |
| 593 | Theory Demand and Supply | What is a black market? | A black market or underground... | Null | |
| 594 | Theory Demand and Supply | What is shortage? | Shortage is a term describing... | Null | |
| 595 | Theory Demand and Supply | What is glut? | Glut is a term describing... | Null | |
| 596 | Theory Demand and Supply | What is producer surplus? | Producer surplus is the difference... | Null | |
| 597 | Theory Demand and Supply | What is the meaning of excess demand condition? | Consumer surplus is the difference... | Null | |
| 598 | Theory Demand and Supply | What is a “change in supply”? | A change in supply means... | Null | |
| 599 | Theory Demand and Supply | What is a “change in demand”? | A change in demand is... | Null | |
| 600 | Theory Demand and Supply | What is a “change in quantity supplied”? | A change in quantity supply... | Null | |
| 601 | Theory Demand and Supply | What is a “change in quantity demanded”? | A change in quantity demanded... | Null | |
| 602 | Theory Demand and Supply | Why is the supply curve upward sloping? | The supply curve shows the... | Null | |
| 603 | Theory Demand and Supply | What is market equilibrium? | This condition of market equilibrium... | Null | |
| 604 | Theory Demand and Supply | What is supply? | Supply refers to the amount... | Null | |
| 605 | Theory Demand and Supply | What is demand? | Demand refers to the consumer’s... | Null | |
| 606 | Central Problem of Economics | What causes the production possibility curves to shift inward? | decrease in quantity/quality of resources... | Null | |
| 607 | Central Problem of Economics | What causes the production possibility curves to shift outward? | - increase in quantity/quality of... | Null | |
| 608 | Central Problem of Economics | What is the Production Possibility Curve (PPC)? | A PPC is a graph... | Null | |
| 609 | Central Problem of Economics | What are the factors of production? | Factors of production are the... | Null | |
| 610 | Central Problem of Economics | What is a capital good? | A capital good (sometimes simply... | Null | |
| 611 | Central Problem of Economics | What is decreasing opportunity cost? | This means that as more... | Null | |
| 612 | Central Problem of Economics | What is constant opportunity cost? | This happens when factors of... | Null | |
| 613 | Central Problem of Economics | What is increasing opportunity cost? | Increasing opportunity cost is reflected... | Null | |
| 614 | Central Problem of Economics | Why is there opportunity cost? | Because of scarcity, every time... | Null | |
| 615 | Central Problem of Economics | What is opportunity cost? | In microeconomic theory, the opportunity... | Null | |
| 616 | Central Problem of Economics | What does marginal utility mean? | The marginal utility of a... | Null | |
| 617 | Central Problem of Economics | What is utility? | Utility is a representation of... | Null | |
| 618 | Central Problem of Economics | How to address the problem of scarcity? | To address the problem of... | Null | |
| 619 | Central Problem of Economics | Why scarcity cannot be eradicated? | There is a limited amount... | Null | |
| 620 | Central Problem of Economics | What causes the problem of scarcity? | The fact that there are... | Null | |
| 621 | Central Problem of Economics | What is scarcity? | Scarcity is the fundamental economic... | Null |