What is the difference between an “Economic Good” and a “Non-Economic Good”? February 21, 2023 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? March 22, 2022 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? March 12, 2022 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? January 16, 2022 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? November 16, 2021 TLDR: Because fixed costs do not fall alongside revenue, unlike variable costs.
What are some advantages and disadvantage of product differentiation? May 19, 2021 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 February 22, 2021 TLDR: A quick mathematical differentiation will do the trick.
H1 or H2 Economics for A Levels? January 22, 2021 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. December 31, 2020 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? December 6, 2020 TLDR: It has to do with the Circular Flow of Income.
Must 1 point = 1 paragraph in my essay? September 15, 2020 TLDR: No – paragraphing serves the purpose of improving the reading experience. Avoid walls of text!
Must I Use Examples Everywhere In The Economics Exam? August 18, 2020 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 July 24, 2020 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 July 17, 2020 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? June 23, 2020 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? June 13, 2020 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? June 5, 2020 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? May 23, 2020 TLDR: No, but it doesn’t mean students should ignore such news.
JC Econs 101 