by Simon Ng | Jul 18, 2017 | Economics Tuition, Elasticity of Demand and Supply, Microeconomics, Microeconomics CSQs, Theory of Demand and Supply |
In the recent months, the price of durian in Singapore has increased. Generally, the durians are imported from Malaysian farmers. However, there has been a growing trend of Malaysian suppliers exporting durians to China. Hail the king of all fruits Mao Shan Wang (also...
by Simon Ng | Jul 3, 2015 | Economics Tuition, Elasticity of Demand and Supply, JC Economics Essays, Microeconomics, Theory of Demand and Supply |
2010 marked a trying time for the airline business. The eruption of the Icelandic volcano caused cancellations of 95,000 flights over Europe. One week later, the BP oil well exploded in the Gulf of Mexico, resulting in the worst oil spill in US history. Using economic...
by Simon Ng | Jun 29, 2014 | Economics Tuition, Elasticity of Demand and Supply, JC Economics Essays, Microeconomics |
Introduction Definition of price-elasticity of demand Meaning of price-elastic or price-inelastic demand for tour packages Examine the determinants of PED to assess whether demand for tour packages are price-elastic or price-inelastic Main Body 1) Identify the...
by Simon Ng | Jun 29, 2014 | Economics Tuition, Elasticity of Demand and Supply, Income and Cross Elasticity of Demand, JC Economics Essays, Microeconomics |
Introduction Definition of PED and PED and state the market information of the PED and PES will help producers in deriving the effective price and production strategy to raise and minimise cost of production so as to raise the profit. Main Body 1. Explain how the...
