300 prompts matching "The price mechanism and its role in allocating scarce resources"
Spot my mistake: Two merits and two demerits of central planning
Give me a wrong or muddled explanation of two merits and two demerits of central planning
Real-life Nigeria: What price for bread) and answers it first as a central planner and then as a market
Show me how what price for bread) and answers it first as a central planner and then as a
Teach me: Drawing demand and supply on one pair of axes to scale and read off the equilibrium
Be my SS1 Economics teacher for this one point: drawing demand and supply on one pair of a
Project task: Measuring surplus and shortage in units
Set me a small project on measuring surplus and shortage in units, the kind I could finish
Spot my mistake: Drawing diagrams showing the effect on equilibrium price
Write a short SS1 Economics answer about drawing diagrams showing the effect on equilibriu
WAEC prep: The difference between a shift in demand and a movement along the demand curve
Act as my WAEC Economics examiner. I am in SS1. Set me an exam-standard question on the di
Spot my mistake: The relationship between PED and total revenue using a worked revenue table
Give me a wrong or muddled explanation of the relationship between PED and total revenue u
Practice set: Calculating PED for a N50 rise in the price of a data bundle
Give me a practice set on calculating PED for a N50 rise in the price of a data bundle for
Spot my mistake: Two reasons why agricultural supply is price inelastic in the short run
Show me a worked example on two reasons why agricultural supply is price inelastic in the
Teach me: Tracing the effects of a price change through related markets
I am an SS1 student studying The Price Mechanism at Work in Economics. Explain tracing the
Practice set: Five-link chain running from flooding in Kebbi to the price of imported rice in Lagos
Give me a practice set on five-link chain running from flooding in Kebbi to the price of i
Project task: Map the knock-on effects of a diesel price rise on the bakery, cold-store and haulage markets
Set me a small project on map the knock-on effects of a diesel price rise on the bakery, c
Spot my mistake: Explain, using elasticity, why the same shift raises price more in one market than in another
Show me a worked example on explain, using elasticity, why the same shift raises price mor
Practice set: Two external costs and two external benefits of road building in Nigeria
Set me five practice tasks on two external costs and two external benefits of road buildin
Teach me: The government's roles as producer, employer, regulator and redistributor
You are my personal SS1 Economics tutor. Teach me the government's roles as producer, empl
Real-life Nigeria: Drawing a maximum price set below equilibrium showing the resulting shortage
Show me how drawing a maximum price set below equilibrium showing the resulting shortage w
WAEC prep: Calculating natural increase for six countries and rank them
Act as my WAEC Economics examiner. I am in SS1. Set me an exam-standard question on calcul
WAEC prep: Drawing and label the optimum population diagram
Act as my WAEC Economics examiner. I am in SS1. Set me an exam-standard question on drawin
Teach me: Assessed as Paper 1 multiple choice and as the 2-mark define and 4-mark explain parts of Paper 2
I am an SS1 student studying Nature of the Economic Problem in Economics. Explain assessed
Spot my mistake: Interpreting points on, inside and outside the PPC as efficient, under-used and unattainable
Give me a wrong or muddled explanation of interpreting points on, inside and outside the P