₦airaland Forum

Ortarico: Assumption 1 was stated by Irvin Fish that quantity theory can be explained in terms of the following equation; MV = PQ which can be used to find the subject formula of each of the denotion
M - Total amount of money supply, it's determined by the monetary authorities
V - Velocity of money circulation, it is fixed in circulation
P - General price level
Q - Real output of real GNP which is also fixed in the short run

Assumption 2 was stated by prof Milton Friedman that money is just one of the many ways in which wealth can be held. He also gave an equation for this sha.

Gbam! Sir Gresham's law: bad money has a power over good money(paraphrased)

Shegz94: d explanation given by Crowther is very much correct.

VML means d movement of labour 4rm 1 position 2 anoda in d same job i.e teacher to headmaster. HML means d movement of labour 4rm 1 job 2 anoda job. Am correct sir!

crowther15: U knw each market structure face with different elasticity of demand? As for Monopolistic producer he faces with Elastic Demand, because his product has subtitute and slightly increase in price of his goods make consumer 2 switch 2 subtitute. While monopoly is faces with INELASTIC demand. is a single producer who can discrimate price and no matter how high the price may be consumer wil continue buying d product cos there is no alternative.

U are very very correct. But d 1st explanation was confusing because u used monopolistic for 1 and 3,instead of monopolistic competitive mkt and monopolist mkt. Kudos

Becalina: hustling ni o. u can bet on it, na d answer d guy go give u be dat. *winks*

If na so,e beta o! Make him hustle enough bar o. Bcus na him go pay ma tranx bak to lag after ui exam.

crowther15: Let me share dis: 1 Demand for monopolistic product is ELASTIC 2. for perfect competition is infinitly or perfectly elastic while that of 3. Monopolistic is INELASTIC @brainian keep on with the good job

Pls can u clearly elaborate point 1 and 3.

crowther15: I must tell u the fact, I didnt do much on Consumer Utily

No brobs bro! Try to cover that topic because questions would definately come out from it

crowther15: Is Demand for money is Derived demand or Composite demand?

D demand for money is derived because it can be used to obtain another commodity

I WISH TO SHARE THIS WITH US:
1.A buyer who haggles in the market is applying the principle of utility maximization.
2.A conglomerate is a combination of two or more corperations engaged in entirely different businesses that fall under one corperate structure usually involving a parent company and several subsidiaries.It is also knwn as a multi-industry company.
3.A continuous increase in national income accompanied by increasing real per capita income and the structural transformation(change) is called economy development. Note that an increase(expansion) in national income or output is called economy growth. The former talks about change while later talks about expansion.
4.A cooperative is a member owned business organisation with minimum of 5 share holders with equal voting right regardless of involvmend or investment
5.A country exporting mainly primary products and with high percentage of her labour force in agriculture is said to be under-developed.

It's been a while I saw Shakur on this thread oh! He hasn't been online on 2go too. Pls who knows his where about?

crowther15: For wich market model is there a very large number of firms? A.mopolistic market competition B.oligopoly C.pure monopoly D.pure competition

It can't be monolistic comp... because few firms produce close subs..It cant be pure mono because only a single firm is involved. It cant be oligopoly because few firms are involved. The ans is D because a pure competitive mket comprises large firms

DEGREE2466: My dear fellow economists, you guys can read my thread about economists and accountants which one is more suitable for banking sector and make your suggestions

Accountants are more suitable 4 checking and balancing of acct in comm...banks,mortgage banks and few fin inst... while economists work as researchers and consultants in banks. But in central bank and discount houses where more of research is really needed,they employ more of economists than accountants.

emekakelvin: Emekakelvin: I experienced d success of this forum and knowledge of genius

Kudos bro!

crowther15: Can any1 xplain dis beta. Horizontal mobily of labour: its occur when a worker is promoting buh stil in d same job e.g teacher to headmisstres. Vertical mobility of labour means when a worker totally change 4rm one to anodar. It dis right?

U missed it.Just Give ur explanation of hori..mob..of..lab to vertical and vice versa.

crowther15: Ceteris peribus who are those with this combination? MAT, ECO, GEO & ENG. Wil must do math 4 here oo

I hv d xame combo

Odunhana: Odunhana was here.

D boss. UWC Sir

This is to inform everyone whose utme combo involves economics to follow eco thread for 20 summarized Eco points for each day. And questions and answers are discussed. We can do it 2geda by group learning. Odunhana, am expecting ur daily contribution.

www.nairaland.com/1217814/online-economics-questions-jamb-pum/21

Odunhana: na JJC u call me for here ni?

Ko da yan mo ni!

jennilisius: awld be takin economix in my pume, bt am so lost,lyk realy lost in it.. pz add me up on 2go to coach me, jennifer2391,.. fanx.. am enjoyin dis thread so much

U ar welcome. I have sent the request @ brainian. But we can do more of learnin here. So invite ur eco friends to folo dis thread.

1.Is it an assumption or a theory that an indifference curve is convex to the origin?
2. Why did economists regard ordinal utility analysis as an old wine in a new cup?
3. What is the difference between MRS(Marginal Rate of Substitution) and MRT(Marginal Rate of Transformation)?

Fynestboi: dnt get u what do u said dat was true?

Dat it's domant and missing since july

Ecodynamics: drop ur slang 1st to knw u locate us again

Fynestboi: u can use here

https://www.nairaland.com/1217814/online-economics-questions-jamb-pume/21

Thanks for the link. I believe can see it by urself that all I said is true. The latest post were June/July post. Have written down the link anyway. So all eco dudes on dis thread should follow that link. It is well.

crowther15: Team Economics abeg show up oo, or is there any group created for UI economics. I nid 2 read now because unilorin don come with their wahala oo

We are here bro! I tried to open a thread where ui eco aspirants could critically do evaluation and learn subject matters,but Finestboy thougt it would lead to partition of the existing ui thread. So he closed it down. That wasn't my intention anyway. Though, there was once a thread 4 eco dudes. But it's domant and missing because all the rest have written their pume and been admitted. No probs bro. Hook up with me on 2go @ brainian

crowther15: there is double admission nau, if UI offer him admission jamb will also notify him, there is no problem with that

There is a problem.But it can be solved anyway. Last year,a friend of mine had double admission and preferred to accept the 2nd one. Subsequent upon that,he was instructed to go to Jamb office to terminate the first one. But none of the Jamb dendrites could do it for him.So,he was referred to the headquarters at Abuja. There,he spent 57k and 3 days before he could be attended to.

Ai-bi-ke:
....d distance btwn d two points is root13,while d distance btwen d foot of d buildin nd measuring insrument is 40root3

Gbam! U can share ur questions if u have any.

emmyeuler1: @brainee...to get the points common to the equations implies solving the two equations 2x-y=4 and x+y=2 simultaneously which gives x=2,y=0....distance between Q and points common to the two lines=sqrt[(Y2-Y1)^2 + (X2-X1)^2] =Sqrt(13) units

U are very correct bro.Are u an eco aspirant ?

For Eco student:
1.Find the distance between the point Q(4,3) and the point common to the lines 2x-y=4 and x+y=2
2. The angle of elevation of a building from a measuring instrument placed on the ground is 30 degree. If the building is 40m high,how far is the instrument from the foot of the building?

Silas Benjamin: Pls hw does UI set Calculations in subjects like Physics nd Chemistry,...in their Post Ume,Pls hw does UI set Calculations in subjects like Physics nd Chemistry,...in their Post Ume,Pls hw does UI set Calculations in subjects like Physics nd Chemistry,...in their Post Ume,

The way Jamb does.

BRAINEE123: To all Economics aspirants:
1.As Alfred Marshal is to utility curves; ........is to indifference curves
2. As Adam Smith is to father of Economics; ......is to father of macro economics

Abeg na vex if u na be Eco student

To all Economics aspirants:
1.As Alfred Marshal is to utility curves; ........is to indifference curves
2. As Adam Smith is to father of Economics; ......is to father of macro economics

To all Economics aspirants:
1.As Alfred Marshal is to utility curves; ........is to indifference curves
2. As Adam Smith is to father of Economics; ......is to father of macro economics

Pls this thread is meant for academic posts. Therefore, anyone who digresses might be reported.