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Social Science
Explore questions in the Social Science category that you can ask Sparky!
- What is the PED range for an elastic good?
- PED value of perfectly inelastic demand
- What is the PED range for a unitary elastic good?
- When comparing slopes of two demand curves, which one is more elastic?
- What happens to total revenue when price changes for a unitary good?
- What happens to total revenue when price increases for an inelastic good/service? (graph this separately)
- What happens to an elastic good's total revenue when price increases? (graph this separately)
- Compare the impact of a shift in supply for food vs. toys ((graph this separately)
- what goods are non-rivalrous and non-excludable?
- how is the effect of a shift in both the supply and demand demonstrated graphically? do this separately.
- how does equilibrium change? Explain how a new equilibrium is achieved through the price mechanism.
- analyse a subsidy using a diagram separately
- Draw a graph and label the axes correctly to show the exchange rate of the UK pound with respect to the US dollar.
- analyse the impact of indirect taxes separately by graphing them
- give examples of price floors (graph and explain the consequences separately)
- When leakages > injections, what happens to the GNI?
- Draw the budget constraint line between...
- analyse the impact of rent controls separately
- explain with a diagram what occurs in a fixed exchange rate system when income increases in eurozone countries in relation to the dollar? How about what happens if US citizens want to travel to Europe?
- Marginal benefit vs. cost graph (MR>MC good, MR<MC bad) - show this graphically based on the following example...