- What is the difference between an “Economic Good” and a “Non-Economic Good”?
TLDR: An Economic good is one where there is a “viable” price under market conditions, whereas a non-Economic good doesn’t have one.
- What is the difference between equilibrium quantity and quantity demanded?
TLDR: One describes the actual consumption point in the market, while the other describes a set of possible points for consumption.
- I did well for O Level Economics, why am I struggling for my A levels?
TLDR: Because it is more difficult, your competition is now smarter, and you are more stressed out.
- Is it a good idea to study the notes before the teacher teaches it?
TLDR: It depends on your time availability, and whether you can understand your notes well when reading them
- Why do profits tend to decrease more if fixed costs are significant?
TLDR: Because fixed costs do not fall alongside revenue, unlike variable costs.
- What are some advantages and disadvantage of product differentiation?
TLDR: Product differentiation can be good when “meaningful” to consumers. Obviously the opposite tends to be true when otherwise.
- Proof of % Δ Real GDP Formula
TLDR: A quick mathematical differentiation will do the trick.
- H1 or H2 Economics for A Levels?
TLDR: H1 Econs requires less effort from students, but naturally this means also that they learn less than their peers taking H2 Econs.
- Why logging interest in my FOC notes gives you a prompt to subscribe to updates.
TLDR: Because you might be interested in learning from, and with me, and that commitment on my part will never diminish as long as this site exists.
- Why is GDP calculated by either the “Income” or the “Expenditure” approach?
TLDR: It has to do with the Circular Flow of Income.
- Must 1 point = 1 paragraph in my essay?
TLDR: No – paragraphing serves the purpose of improving the reading experience. Avoid walls of text!
- Must I Use Examples Everywhere In The Economics Exam?
TLDR: Use examples in the exams to strengthen your arguments, but don’t be silly enough to ignore the ticking clock!
- Summing Exports and Imports
TLDR: Summing the magnitudes of exports and imports seldom appear in “A” level Economics. But that doesn’t mean you won’t see that in the real world.
- Questions on Cost Curves and Economies of Scale
TLDR: Someone sent me a picture of his notes, and asked me if it contradicts what he had learnt in earlier sections. It doesn’t – but the reasons are not immediately obvious.
- Is the Marshall-Lerner Condition important for “A” level Economics?
TLDR: Yes. It is a very critical assumption/condition for the exam. Leave it out in the exams at your own risk.
- Will an increase in real GDP raise personal incomes?
TLDR: Yes, but understanding the mechanisms behind the GDP accounting methods should both inform and caution us.
- Why is a tax on cigarettes considered regressive?
TLDR: Because it is a bigger financial burden on lower income segments of the population.
- Will COVID-19 appear in this year’s “A” level Economics exam?
TLDR: No, but it doesn’t mean students should ignore such news.