291 prompts matching "Cross-elasticity exercise using rice and garri, then petrol and cars"
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: 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: 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 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: Setting a maximum price above the equilibrium price and expecting it to bite
Act as my SS3 Economics tutor. Write a short answer on setting a maximum price above the e
Practice set: Rationing as a companion measure to price control
Act as my SS3 Economics tutor. Give me five practice questions on rationing as a companion
Teach me: Scarcity, choice and the fundamental economic problem
You are my personal SS3 Economics tutor. Teach me scarcity, choice and the fundamental eco
Let me explain: Wants, needs and the scale of preference
I have just studied wants, needs and the scale of preference in my SS3 Economics class. Le
Teach me: Land as a factor of production and what makes it peculiar
You are my personal SS3 Economics tutor. Teach me land as a factor of production and what
Let me explain: Capital, and the difference between fixed and working capital
I have just studied capital, and the difference between fixed and working capital in my SS
Practice set: The reward paid to each factor: rent, wages, interest and profit
Act as my SS3 Economics tutor. Give me five practice questions on the reward paid to each
Teach me: The capitalist economy and its defining features
You are my personal SS3 Economics tutor. Teach me the capitalist economy and its defining
Let me explain: The mixed economy, and why most countries actually run one
I have just studied the mixed economy, and why most countries actually run one in my SS3 E
Teach me: Presenting economic data in tables and charts
You are my personal SS3 Economics tutor. Teach me presenting economic data in tables and c
Let me explain: Reading and interpreting graphs of economic relationships
I have just studied reading and interpreting graphs of economic relationships in my SS3 Ec
Practice set: Measures of dispersion: range, variance and standard deviation
Act as my SS3 Economics tutor. Give me five practice questions on measures of dispersion:
Teach me: The law of demand and why the demand curve slopes downward
You are my personal SS3 Economics tutor. Teach me the law of demand and why the demand curve slopes downward, using a real Nigerian example so I actually understand it. Break the explanation into clear steps and check I have followed each one before moving on. Finish with one short question for me to try on my own.
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Let me explain: A movement along a demand curve against a shift of the whole curve
I have just studied a movement along a demand curve against a shift of the whole curve in
Practice set: Joint, competitive, derived and composite demand
Act as my SS3 Economics tutor. Give me five practice questions on joint, competitive, deri
Teach me: The law of supply and why the supply curve slopes upward
You are my personal SS3 Economics tutor. Teach me the law of supply and why the supply cur