by Simon Ng | Oct 8, 2015 | Economics Tuition, International Trade, JC Economics Notes, Macroeconomics |
The factors that limit free trade can be seen in terms of the artificial barriers to trade, and natural barriers to entry. The artificial barriers to trade refers to protectionism, in which countries implement policies that prevent the import of foreign goods into the...
by Simon Ng | Aug 20, 2015 | Economics Tuition, Inflation, JC Economics Notes, Macroeconomics |
Cost-push inflation occurs when there is a rise in cost of production which will lead a fall in the aggregate supply that will lead to an excess demand condition, contributing to increase in price level. When the cycle becomes cyclical, it will develop as wage-price...
by Simon Ng | Aug 20, 2015 | Economics Tuition, Inflation, JC Economics Notes, Macroeconomics, Unemployment |
When there is a rise in oil prices, the cost of production is increased which will lower aggregate supply, resulting in an excess demand condition, thus raising general price level. Hence, cost-push inflation arises. An oil price hike leads to inflationary pressures....
by Simon Ng | Aug 20, 2015 | Economic Indicators, Economics Tuition, JC Economics Essays, Macroeconomics, National Income Accounting |
In Singapore, the enforcement of a good crime enforcement system has significantly reduced the level of crime rates and illegal activities in Singapore. However, in the past, where the presence of illegal activities/pirated transactions was rampant, it may have...
by Simon Ng | Aug 13, 2015 | Economic Indicators, JC Economics Essays, Macroeconomics, National Income Accounting |
Standard of living refers to the average quality of life of a population that includes the material and non-material aspects of life. The material aspect or quantitative value of SOL is determined by the quantity of goods and services enjoyed by the individual through...
by Simon Ng | Aug 10, 2015 | Aims of Government, Economics Tuition, JC Economics Essays, Macroeconomic Policies, Macroeconomics |
To what extent is the policy of gradual appreciation of the Singapore Dollar always a desirable approach to maintain economic stability in Singapore? Introduction When an economy seeks to achieve economic stability, the government strives to achieve low inflation rate...
