Substitutes and Complements | Reference Library - tutor2u
WEBOct 27, 2019 · Substitutes and Complements. In this micro video on the theory of demand, we look at substitute and complementary goods. You will come across these when you cover cross price elasticity of demand in introductory microeconomics. Substitute goods. Substitute goods are two alternative goods that could be used for the same purpose.
Economics - tutor2u
WEBTheme 2 Study Book for Edexcel A-Level Economics. 02-4130-30357-01. £7.95. Revision Guides.
Explaining the Multiplier Effect | Reference Library - tutor2u
WEBNov 29, 2021 · The multiplier effect arises because one agent’s spending is another agent’s income. When a spending project creates new jobs for example, this creates extra injections of income and demand into a country’s circular flow. The negative multiplier effect occurs when an initial withdrawal or leakage of spending from the circular flow leads ...
Explaining the Price Mechanism | Reference Library - tutor2u
WEBMar 30, 2021 · Prices rise and fall to reflect scarcities and surpluses. If prices are rising because of high demand from consumers, this is a signal to suppliers to expand production to meet the higher demand. If there is excess supply in a market, the price mechanism will help to eliminate a surplus of a good by allowing the market price to fall. 2.
GCSE Economics - 100 multi-choice revision questions
WEBMay 10, 2019 · Here are 100 multi-choice revision questions for GCSE Economics split into two quizzes (one for micro and one for macro). In each quiz, 10 questions are randomly taken from a bank of the 50 that are available so the quiz can be attempted several times. The questions have been written with both the AQA and OCR specifications in mind. Micro quiz (including introduction to economics, demand and ...
What are the main factors of production? | Reference Library
WEBJul 14, 2023 · The main factors of production are as follows: Land: This refers to all natural resources used in production, including land itself, as well as any minerals, water, forests, or other resources that are found in or on the land. Land is often considered a fixed factor because its supply is generally limited. Labour: Labour includes the physical and mental effort exerted by individuals in the ...
The Biological Approach | Reference Library - tutor2u
WEBSep 5, 2022 · The approach is considered reductionist; complex behaviour, thoughts and emotions are all equally explained by low-level biological mechanisms such as biochemicals and nerve impulses. Biology alone has been unable to explain the phenomenon of consciousness. An extreme biological approach does not account for the wide base of evidence that ...
Chomsky: Language Acquisition in Infancy and Early Childhood
WEBSep 23, 2022 · Language is an example of intellectual development.There are some theorists who believe language is learned and others who believe that language is innate. Noam Chomsky is a credible linguist and expert in language development.
Conformity - Asch (1951) | Reference Library | Psychology - tutor2u
WEBSep 6, 2022 · Share : Asch (1951) conducted one of the most famous laboratory experiments examining conformity. He wanted to examine the extent to which social pressure from a majority, could affect a person to conform. Asch’s sample consisted of 50 male students from Swarthmore College in America, who believed they were taking part in …
Revision Quizzes for A Level Business | Collections - tutor2u
WEBMay 20, 2018 · Quizzes & Activities. Try these MCQ-based revision quizzes as part of your A Level Business revision! We've grouped them into main topic categories.