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HSC Economics Question Thread

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jakesilove:

--- Quote from: brontem on July 30, 2016, 05:56:42 pm ---Fantastic! We've now got our own personal researcher! (seriously though that's v helpful thank you  :D :D)

--- End quote ---

I tried coming up with an mnemonic device using the descriptors, the best I could do was CIGGIS sorry

jakesilove:

--- Quote from: brontem on July 30, 2016, 05:56:42 pm ---Fantastic! We've now got our own personal researcher! (seriously though that's v helpful thank you  :D :D)

--- End quote ---

Also, economics lol

brontem:

--- Quote from: jakesilove on July 30, 2016, 06:00:01 pm ---I tried coming up with an mnemonic device using the descriptors, the best I could do was CIGGIS sorry

--- End quote ---
That's so laughable I might actually remember it  ::)


--- Quote from: jakesilove on July 30, 2016, 06:00:15 pm ---Also, economics lol

--- End quote ---
Fight me hahahahahaah

conic curve:
In the prelim topic "markets", what are they referring to? (i.e. are they referring to businesses or stores like K-mart or what)

Try to think of it in the way that I have listed below

isaacdelatorre:

--- Quote from: conic curve on July 31, 2016, 05:03:55 pm ---In the prelim topic "markets", what are they referring to? (i.e. are they referring to businesses or stores like K-mart or what)

Try to think of it in the way that I have listed below

--- End quote ---

Hey, from what I remember.
The topic of markets is an introduction into the different kinds of markets. E.g.
Financial Markets - forex and domestic
Product Markets - market for goods and services (so like Kmart and other businesses)
Factor Markets - market for factors of production
Labour Markets - market for human capital

The first few subsections within markets - supply, demand and equilibrium are applicable to all markets in that each market will have a market equilibrium that is influenced by changes in supply and demand.

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