Help As Soon As Possible

[Rutzaba]

SalmanPakRocks

 

[sweetiepie94]

His phone is unreachable and he lives 8KM away, no vehicle atm. Sorry.

oh but try your best to be contact with him as its urgent i need to summit it tomorrow m not able to do cox m weak in economics

 

[Thought blocker]

oh but try your best to be contact with him as its urgent i need to summit it tomorrow m not able to do cox m weak in economics

Stay here for whole day and do your work along with it keep refreshing if any help from XPC members.

 

[sweetiepie94]

Stay here for whole day and do your work along with it keep refreshing if any help from XPC members.

i cant wait i need to print it also soo be quickk !

 

[Thought blocker]

i cant wait i need to print it also soo be quickk !

Sorry I cannot help you out. If need any help in physics or chemistry, I will surely try to help you out. ^_^

 

[Thought blocker]

Answered :¬ (Check if my friend made a mistake)
We would preferably need to see the graph. But based on what I remember when wages are raised and the prices remain constant, the quantity of commodities should increase because the manufacturers will be able to sell the commodity due to the increase in wages providing more money for people to spend. But there is a fine line because if you pay people too much, you may not make enough money to continue to produce the commodity.

Increased wages and a fixed price should create an increase in the overall output as well. Because you can only create enough things to replace the ones that have been purchased so that there is always stock for retailers or seller. So when more people are buying more things because of their higher wages, the retailers would need replacement stock much more often and that would increase the output of the product considering when you sell more you need to create more to replace the increase in sales.

 

[Ram97]

Sorry but I have just done O Level Economics

 

[teachyourself]

Please I need to summit my assignment tomorrow so help me as soon as possible

Q1. With the help of graph, explain the effect of an increase in average income of an economy on equilibrium prices and quantity of a commodity that society consumes.

Q2. With the help of graph, explain the effect of an increase in average income of an economy on equilibrium price level and over all output of the economy under consideration.

i will be very thankful whoever will help me

sweetiepie94
q1. depends upon the type of good: normal, luxury, inferior or giffen .. check khan academy videos if you want
so check any economics books and there should be a graph for income effect on consumption just use that graph
http://www.cliffsnotes.com/more-sub...nsumer/consumer-equilibrium-changes-in-prices
http://www.cliffsnotes.com/more-sub...nsumer/consumer-equilibrium-changes-in-prices
http://www.economicshelp.org/blog/790/economics/different-types-of-goods-inferior-normal-luxury/

q2. this is the view point of looking at the GDP from a consumption point of view instead of the production point of view
in general more income leads to more consumption hence more production hence higher GDP ... again check khan academy videos or use a graph from any book
http://en.wikipedia.org/wiki/Gross_domestic_product#Income_approach
http://www.forbes.com/sites/bobmcteer/2012/11/30/the-income-side-of-gdp/
http://www.cliffsnotes.com/more-subjects/economics/gdp-inflation-and-unemployment/gdp

yahoo answers usually has such questions answered

you can also download TTc videos from piratebay and use those since you have eco as a subject

 

[sweetiepie94]

i need graphs not the description

 

[teachyourself]

i need graphs not the description

graphs are in the book just remake them ... no one has the time to do your work for you .. grow up and learn to do your own work .. in other words stop being a parasite.. in the real world nobody gives a crap about anyone and you are truly on your own, get familiar with this reality no matter how cuddled your parents might have kept you in your protective little bubble.. we are all entitled to nothing... earn your stripes

 

[Maganius]

graphs are in the book just remake them ... no one has the time to do your work for you .. grow up and learn to do your own work .. in other words stop being a parasite.. in the real world nobody gives a crap about anyone and you are truly on your own, get familiar with this reality no matter how cuddled your parents might have kept you in your protective little bubble.. we are all entitled to nothing... earn your stripes

Well Said

 

[sweetiepie94]

graphs are in the book just remake them ... no one has the time to do your work for you .. grow up and learn to do your own work .. in other words stop being a parasite.. in the real world nobody gives a crap about anyone and you are truly on your own, get familiar with this reality no matter how cuddled your parents might have kept you in your protective little bubble.. we are all entitled to nothing... earn your stripes

i dont understnd how to draw the graphs so kindly send me

 

[Lipstick Spoiler]

U want me to Draw the graph?Here?Not possible girl..!

 

[sweetiepie94]

U want me to Draw the graph?Here?Not possible girl..!

draw on a paper n send snaps simple i will copy the image :/


with refrence to this answer below

Q1. With the help of graph, explain the effect of an increase in average income of an economy on equilibrium prices and quantity of a commodity that society consumes.


When wages are raised and the prices remain constant, the quantity of commodities should increase because the manufacturers will be able to sell the commodity due to the increase in wages providing more money for people to spend. But there is a fine line because if you pay people too much, you may not make enough money to continue to produce the commodity.

Q2. With the help of graph, explain the effect of an increase in average income of an economy on equilibrium price level and overall output of the economy under consideration.


Increased wages and a fixed price should create an increase in the overall output as well because you can only create enough things to replace the ones that have been purchased so that there is always stock for retailers or seller. So when more people are buying more things because of their higher wages, the retailers would need replacement stock much more often and that would increase the output of the product considering when you sell more you need to create more to replace the increase in sales.

 

[Gibzy Khan]

 

[Lipstick Spoiler]

Well,i'll draw one for u For a normal good?alright?

 

[sweetiepie94]

it should match with answer

 

[Lipstick Spoiler]

Take dis for normal good!

 

[Lipstick Spoiler]

As there is an increase in Income Quantity consumed will increase nd Price for the.product will rise..!