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Nairaland Forum / Nairaland / General / Education / Nairaland Jamb Tutorial Centre {economics Thread} (5489 Views)
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Re: Nairaland Jamb Tutorial Centre {economics Thread} by Martiyu(m): 6:31pm On Feb 24, 2015 |
cee001: C. 500.00 |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Martiyu(m): 6:46pm On Feb 24, 2015 |
The total amount of money created with a new bank deposit can be found using the deposit multiplier, which is the reciprocal of the reserve requirement ratio. In this case, the cash ratio. Multiplying the deposit multiplier by the amount of the new deposit gives the total amount of money that may be created. The deposit is #100, the cash ratio is 20%, ie 20/100=0.2 The reciprocal of the cash deposit ratio is 1/0.2=5 Multiply that 5 by the initial deposit of #100,u get ur answer (5×100=500). 3 Likes |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by cee001(m): 11:48pm On Feb 24, 2015 |
Martiyu:Oh my...could u believe I couldn't arrive at any answer...Nowhere have I gotten this thing called deposit multiplier...You don't know how grateful I am...wow..BTW d answer u gave is correct according to my past question..more are coming bro..thanks..I am really learning |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Martiyu(m): 11:58pm On Feb 24, 2015 |
cee001: Uwc bro, anyday. Glad that helped. 1 Like |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by demmy0325(m): 6:13pm On Feb 26, 2015 |
I luv ds.. Evn tho econs s a bonus 4 me... Its jst gud helpin pple wu doesnt knw... God bless wueava startd ds... Nd i hop it helps dem.. |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Mogten(m): 7:07pm On Feb 26, 2015 |
Martiyu:Your answers are spot on. Highly impressed. You studied economics? |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Martiyu(m): 8:10pm On Feb 26, 2015 |
Mogten: Smiles, m flattered... Yeah, I did. Oh my bad! I had already asked if you are an aspiring Economist before I realized it's a different moniker that quoted me. So, to put differently, what's your own 'concentration'? |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Mogten(m): 9:08pm On Feb 26, 2015 |
Martiyu:Lol. You are welcome bro. I am a graduate of economics myself. Was just passing by. You seem very sharp. |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Martiyu(m): 9:18pm On Feb 26, 2015 |
Mogten: Wow... M so pleased to meet you, my learned colleague. but those mild encomiums are kinda making me feel more important than I really am. *grins*... Thanks Which institution is your alma mater? ***modified*** Oh! Don't just pass by, pls stay with us, feel at home and make yourself comfortable As is customary on here, Cee001, bring a bottle of groundnut and coke let's welcome this dignitary ... Lol 1 Like |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by cee001(m): 11:44pm On Feb 26, 2015 |
**Rushes in with a bottle of coke and groundnut and presents it** yes o...we are family...I salute my Chief Economists in the house...lol 1 Like |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Jace2: 2:32pm On Feb 28, 2015 |
cee001: |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Mogten(m): 5:53pm On Feb 28, 2015 |
Martiyu:Hehe so funny. I graduated from ABU. U? Groundnut and coke ke?! Bros eh, Shey u want make I purge? Cee001, abeg bring me just pure water instead, make we begin dey rationalise. 1 Like |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Martiyu(m): 7:17pm On Feb 28, 2015 |
Mogten: lol, OK...water it is then . Greatest ABUSITE...I just hope i'm ryt about that. I finished from UI. |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Mogten(m): 9:10pm On Feb 28, 2015 |
Martiyu:Lol. You are very much right my brother. UI?! Should I run or stay? Hahahah... Now its obvious how u got so sharp. Professor Mrs Garba, that woman na fountain of knowledge. Bet she lectured u? |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Martiyu(m): 10:25pm On Feb 28, 2015 |
Mogten: Smiles, pls stay. Oh! Prof Garba, she is who u say she is. May I let you know that her husband is also a Prof? That usually get me thinking what level of knowledge would run in the family. The children would just v to sit up. Though she didn't lecture me, but she is one out of many. |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Mogten(m): 10:33pm On Feb 28, 2015 |
Martiyu:Lol. Youre so funny. Her husband? Hehe, I know. Professor A.G Garba ... He was my lecturer. She does visit him in Zaria. He's a brain bro! |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Martiyu(m): 11:43pm On Feb 28, 2015 |
Mogten:Mehn... That's good to know. So, how is post school life like? What are you up to now? If I may ask. |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by MizyB(f): 1:02am On Mar 01, 2015 |
cee001:Economics Gurus in the house, please we need to come back to this question. I have checked two text books and i still think these are the answers, but that definitely doesn't mean am correct, more clarifications from you sirs A.interest on loans aren't fixed. A.Ratio of exports to imports. |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Mogten(m): 8:42am On Mar 01, 2015 |
Martiyu:Its restful almost just as much as its boring. As allowee no dey enter again. I am awaiting service ooo. U? |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Mogten(m): 8:58am On Mar 01, 2015 |
MizyB:On the terms of trade one, D is the correct answer. This is because TOT is expressed as the ratio of exports prices to import prices, and not the ratio of exports to imports. Option A ignores the the underlining word, which is "prices", and as such borders on "quantities". And as for the fixed cost question, depreciation, interest, insurance, taxes and repairs of machinery are all ownership costs... And ownership costs are fixed costs. So, interest on loan is a fixed cost. Wages on the other hand are as variable as it can ever get. So, option E is the correct answer. Wages are operating costs. All operating costs can be varied. 1 Like |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Martiyu(m): 9:21am On Mar 01, 2015 |
Mogten:Currently undergoing the youth service scheme. Boring though, u can imagine how idle I'd be in a primary class that has a class teacher and what they converse I don't understand. It's better imagined than experienced but hell! M experiencing that. Lol.... Counting down seriously and bracing up for what the outside world has got to offer.. |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Martiyu(m): 9:24am On Mar 01, 2015 |
Mogten: Need I say more ? U nailed it bro. I read your detailed explanation and figuratively doffed my head - as I had not a hat - for you. |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by MizyB(f): 12:12pm On Mar 01, 2015 |
Mogten: Mogten:i concur with the 1st one. thank you for the illustration buh given that am an ignorant in economics ipso facto your signature; can you please explain why ownership costs are fixed and operational costs varies. Thank you sir |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Mogten(m): 8:36pm On Mar 01, 2015 |
Martiyu:So u be otondo... hehehe... thats naija for you my brother. What part of the country are u serving at? Better learn the language before u finish o. It could be what will help u nail a job in future. I don dey pity myself already. Lol. |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Mogten(m): 8:43pm On Mar 01, 2015 |
Martiyu:lol. This dude, have you thought about strutting your stuff as a stand-up commedian? E go fit you bros. Heheh... thank you so very much! Humble me.... i am glad the prof approves of my points. |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Mogten(m): 9:17pm On Mar 01, 2015 |
MizyB:Operating costs are cost of goods or services that are used up in a production process. Goods such as fuel, fertilizer, wages etc... all form the operating costs. Operating costs vary because their prices depend on the behaviour of other factors. Put in other words, they are externally determined. Take for instance, the amount paid labourers as wages depends on the volume of output and its marketability. The higher the volume of output and its marketability, ceteris paribus, the higher will be the wages paid workers as remuneration and vice versa. Likewise the price of fuel depends upon its output, its market and the cost incurred in producing it. Seeing as market conditions often change, their prices fluctuate and are therefore not constant. Fixed costs on the contrary do not vary with the level of output or any external factor. Take for instance, I lent you N100,000 on a written agreement that you will pay me 10% interest on it per annum, regardless whether you make profit or losses, you ought to honor the agreement and pay me the said amount as and when due. Wages on the other hand, can be reduced to cut losses. I hope that was clear enough. Pardon my epistle. |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by cee001(m): 11:10pm On Mar 01, 2015 |
Martiyu:lol...funny u..*I doffed my head* ![]() |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by cee001(m): 11:13pm On Mar 01, 2015 |
Mogten:epistle ke...pls o,we need it. Documentary self no bad..thanks for d inputs |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by cee001(m): 11:23pm On Mar 01, 2015 |
**In the distribution channels for goods and services,the middleman’s mark-up margin provides a rough measure for theA.Quantity discount allowed final consumersB.Reward for business entrepreneurshipC.Effectiveness of government control overeconomy’s marketing channelsD.Extent of exploitation of the final consumer ** If an increase in income induces a reduction thedemand for beans, beans can be referred to asA. A normal goodB. An inferior goodC. A substituteD. A giffen good ,,,concerning this qst..pls can someone tell me d difference between a giffen good and an inferior good. I know inferior goods have a negative income elasticity,,but are they not also giffen goods ![]() |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by Martiyu(m): 11:33pm On Mar 01, 2015 |
cee001: Don't mind him... Hehehe How is preparation... Are you good to go? |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by cee001(m): 11:43pm On Mar 01, 2015 |
** A company is said to be highly geared if the A. Value of fixed interest loans is high compared with share capital B.Value of share capital is high compared with fixed interest loans C.Dividend rate is high D.Interest rate is high My chief economists in the house,food is served. This will be all;for now..thanks in advance |
Re: Nairaland Jamb Tutorial Centre {economics Thread} by cee001(m): 11:45pm On Mar 01, 2015 |
Martiyu:we are pushing it bro |
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