ECON1010A perspectives in economics is a huge course that gives an opportunity for students to study the subject of economics and the effect it has on people. The students who are enrolled in this course get to explore various economic problems and find out relevant solutions to those problems. When students complete writing the ECON1010A Perspectives in Economics assessment answers, a lot of terms and concepts get clarified with the help of which a series of existing social, political and economic events surface. By reading this blog, you can have a wider look at the assignment and its requirements, eventually allowing you to prepare compelling answers to the questions that follow.
How Will Our Economics Expert Guide You to Write the ECON1010A Assessment Answers?
Assignment question 1
This is the question that is considered to be the most important one in this assignment. It requires calculations as well to depict the relation between aggregate expenditure and total revenue.
This is the first question of the assignment which is based on the concept of components of aggregate expenditure. As per our experts, aggregate expenditure is the study and measurement of the national income. Or in other words, the current value of all those goods that are finished is known as an aggregate expenditure.
It has four components:
- Government purchases
- Net exports
In this first question, our economics assignment help
experts relate all the given transactions, one by one, with their effect on the GDP of Hong Kong and on the above-mentioned components of aggregate expenditure.
Assignment question 2:
A lot of students face challenges in this question, the reason being, deciphering data from the given table. A lot of time goes into understanding the information that is given in these tables. Only when you are clear with this, you will be able to establish a relation between CPI and inflation.
This is the second question of the ECON1010A economics assignment. It is based on an important economics concept of CPI and inflation. As per our economics assignment writers, CPI is useful in measuring the rate of change of prices that are paid by the consumers for a basket of goods or services. This is also known as inflation. So, in a way, CPI is the measure of inflation. For the first part, we calculate the rate of inflation for electricity and gas separately, which gives us the total revenue collected.
For the second part of this assignment question, there is a table given which foretells the electricity demand and supply. Here, our economics assignment help experts guide students on the demand curves. There are various types of demand curves but for this question, we sketch the linear demand graph.
Assignment question 3:
Economics is a vast subject that also studies the behavior of the market and the consumer. This is why demand graphs are used to decipher the existing market conditions so that the impact of 7-Eleven and Circle K on major businesses can be found out.
The demand graph is an important concept in economics. This is why even the third question of the ECON1010A economics assignment is based on this concept. As per the information given in this table, our economics assignment writers help students in drawing and interpreting a demand graph for this data. From this graph, you will be able to study the market structure that best suits this information.
Assignment question 4:
This is a scenario-based question which is the actual window of understanding various perspectives in economics. Through the given case, you will get an idea about different economics problems in the present world.
Our economics assignment help experts compare and contrast Mass Transit Railway (MTR) and the public transport fare concession scheme. In the case of MTR, you are required to construct a demand-supply diagram to put forth the concession clearly.
For the remaining parts, a unit of contingency has to be considered that will be clearer to you once you have the diagram ready. Next, as you now know the unit of contingency, you can clearly draw the demand curve and explain the reasons for the concessionary price based on the graph. In the end, our economics assignment help experts label the diagram as A and B that represent elderly surplus, MTR surplus.
Assignment question 5:
This is the last question in the ECON1010A assessment task. Here, you just have to find out whether or not there are any changes in demand for MTR rides. Then, you have to prepare a diagram depicting this information. Make sure that you label that area as reimbursement by the government.
Our economics assignment help experts analyse the area of economic surplus and find out whether elderly people are better off with compensation or with MTR company. For the last section of this question, we make use of certain concepts of economics and determine the reasons as to why the concessionary fare schemes have not been acceptable post the launch of GMB in 2015.
This is just a brief of the entire assignment task. There are several aspects of the assignment that still need to be explained completely. If you require us to help you with the entire solution or guide you with similar economics assignments, then simply contact us and we’ll help you out.
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