291 prompts matching "Calculating five PED values to two decimal places"
WAEC prep: Comparing the four market structures on price, output and entry
Act as a WAEC/NECO Economics examiner. I am in SS 3. Set me five exam-style questions on c
Spot my mistake: Treating capital as money rather than as a produced means of production
Act as my SS3 Economics tutor. Write a short answer on treating capital as money rather th
Spot my mistake: Reading an index number as a percentage change from the previous year
Act as my SS3 Economics tutor. Write a short answer on reading an index number as a percen
Spot my mistake: Calling a change in price a shift of the demand curve
Act as my SS3 Economics tutor. Write a short answer on calling a change in price a shift o
Spot my mistake: Treating a rise in the cost of production as a movement along the supply curve
Act as my SS3 Economics tutor. Write a short answer on treating a rise in the cost of prod
Spot my mistake: Assuming equilibrium price must rise whenever demand and supply both increase
Act as my SS3 Economics tutor. Write a short answer on assuming equilibrium price must ris
Spot my mistake: Confusing the law of diminishing returns with the economies of scale
Act as my SS3 Economics tutor. Write a short answer on confusing the law of diminishing re
Spot my mistake: Assuming a monopolist can fix price and quantity independently of each other
Act as my SS3 Economics tutor. Write a short answer on assuming a monopolist can fix price
Spot my mistake: Reading limited liability as a limit on what the company itself owes
Act as my SS3 Economics tutor. Write a short answer on reading limited liability as a limi
Spot my mistake: Assuming that removing the middleman always lowers the price the consumer pays
Act as my SS3 Economics tutor. Write a short answer on assuming that removing the middlema
Spot my mistake: Treating import substitution and export promotion as the same policy
Act as my SS3 Economics tutor. Write a short answer on treating import substitution and ex
Spot my mistake: Comparing national income across years without adjusting for inflation
Act as my SS3 Economics tutor. Write a short answer on comparing national income across ye
Spot my mistake: Treating deflation and disinflation as the same thing
Act as my SS3 Economics tutor. Write a short answer on treating deflation and disinflation
Spot my mistake: Assuming all government revenue comes from taxation
Act as my SS3 Economics tutor. Write a short answer on assuming all government revenue com
Spot my mistake: Confusing the balance of trade with the balance of payments
Act as my SS3 Economics tutor. Write a short answer on confusing the balance of trade with
Spot my mistake: Reading a point inside the production possibility curve as impossible rather than inefficient
Act as my SS3 Economics tutor. Write a short answer on reading a point inside the producti
Spot my mistake: Confusing the geographical mobility of labour with its occupational mobility
Act as my SS3 Economics tutor. Write a short answer on confusing the geographical mobility
Spot my mistake: Assuming a centrally planned economy has no prices at all
Act as my SS3 Economics tutor. Write a short answer on assuming a centrally planned econom
Spot my mistake: Reading the steepness of a demand curve as its elasticity
Act as my SS3 Economics tutor. Write a short answer on reading the steepness of a demand c
Spot my mistake: Assuming an indirect tax is borne entirely by the consumer
Act as my SS3 Economics tutor. Write a short answer on assuming an indirect tax is borne e