Social Science Questions
Explore questions in the Social Science category that you can ask Spark.E!
What is the PED range for an elastic good?
PED value of perfectly inelastic demand
What is the PED range for a unitary elastic good?
When comparing slopes of two demand curves, which one is more elastic?
What happens to total revenue when price changes for a unitary good?
What happens to total revenue when price increases for an inelastic good/service? (graph this separately)
What happens to an elastic good's total revenue when price increases? (graph this separately)
Compare the impact of a shift in supply for food vs. toys ((graph this separately)
what goods are non-rivalrous and non-excludable?
how is the effect of a shift in both the supply and demand demonstrated graphically? do this separately.
how does equilibrium change? Explain how a new equilibrium is achieved through the price mechanism.
analyse a subsidy using a diagram separately
Draw a graph and label the axes correctly to show the exchange rate of the UK pound with respect to the US dollar.
analyse the impact of indirect taxes separately by graphing them
give examples of price floors (graph and explain the consequences separately)
When leakages > injections, what happens to the GNI?
Draw the budget constraint line between...
analyse the impact of rent controls separately
explain with a diagram what occurs in a fixed exchange rate system when income increases in eurozone countries in relation to the dollar? How about what happens if US citizens want to travel to Europe?
Marginal benefit vs. cost graph (MR>MC good, MR<MC bad) - show this graphically based on the following example...