The UK Economic Growth Shrank More than Expected

In The News

The Guardian reports today that the UK GDP fell 0.3% in the fourth quarter rather than the 0.2% contraction previously predicted by economists. It states that none of the analysts polled by Reuters had predicted the downgrade. Overall the economy grew 0.7% in 2011.

The Guardian furnished the accounts of the well known economists such as Vicky Redwood, the Chief UK Economist at Capital Economics. Here is what he says.

The slight downward revision to GDP in Q4 is disappointing, although of course this is fairly old news now and it looks as though the economy recovered somewhat in the first quarter … At least there were some encouraging aspects to the detail. Although the household saving rate nudged down in Q4, the back-data have been revised up a fair bit. So it now looks like households' finances are in a bit better condition than before. What's more, the balance of payments figures show that the current account deficit fell sharply, reflecting both the drop in the trade deficit and a rise in the investment income surplus. Meanwhile, it looks as though the economy has managed to expand in Q1. Nonetheless, we still think that there are a number of reasons to doubt that the recovery can maintain the recent acceleration.

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In The News The Guardian reports today that the UK GDP fell 0.3% in the fourth quarter rather than the 0.2% contraction previously pre...

Topic 10: Demand and Supply


Contents

A) Introduction
v  Market
v  Desire
v  Price
v  Utility
v  Demand

B) Detailed study of Demand

C) Detailed study of Supply

D) Markets in Action

Contents A) Introduction v   Market v   Desire v   Price v   Utility v   Demand B) Detailed study of Demand v   Demand...

Topic 10: Demand and Supply - Introduction


Topic 10: Demand and Supply - Detailed Study of Demand



Topic 10: Demand and Supply - Detailed Study of Supply



Topic 10: Demand and Supply - Price Determination


Topic 10: Demand and Supply - Movement OF Demand Curve


Topic 10: Demand and Supply - Causes of Shifts in Demand Curve


Topic 10: Demand and Supply - Movement ALONG the Demand Curve


Topic 10: Demand and Supply - Effects of Changes in Demand on Market Price


Topic 10: Demand and Supply - Movements OF supply curve


Topic 10: Demand and Supply - Causes of Shifts in Supply Curve


Topic 10: Demand and Supply - Movements ALONG supply curve


Topic 10: Demand and Supply - Effects of changes in supply on Market Price


Topic 10: Demand and Supply - Non-Market Prices




Topic 10: Demand and Supply - Commodities with fixed supply


Topic 10: Demand and Supply - Imposing Taxes


Topic 10: Demand and Supply - Granting Subsidies


Solving the CWP to Identify the Basic Terms on How the Market Works


TASKS
1. Complete the Cross Word Puzzle to identify the term that best fits for each of the description given below.
2. Search for the same words and colour them to help you double check your answers for the First Task.

DOWN
1. The willingness of the consumer to possess a particular product
2. The satisfaction obtained by consumers by consuming a product
3. The desire for a product which is backed up by the willingness and ability to buy a product

ACROSS
4. The value of the product expressed in terms of a currency
5. Any arrangement which enables buyers and sellers to determine a price and to facilitate exchange

TASKS 1. Complete the Cross Word Puzzle to identify the term that best fits for each of the description given below. 2. Search for the ...

Searching for the Introductory Terms on How the Market Works



Search for the following words and define each of them.

  1. goods
  2. services
  3. satisfaction
  4. wants
  5. production
  6. commodities
  7. allocation
  8. scarce
  9. resources
  10. capitalist
  11. economic
  12. consumer
  13. preferences
  14. demand
  15. product

Search for the following words and define each of them. goods services satisfaction wants production commodities allocation sca...

The Economic Effects of Tax Cuts

In The News
18 March 2012



Ministry of Economic Development stated on 05th December 2011 that the President ratified the 9th amendment bill to Act number 31/79 (Export Import Act) on the 1st of December 2011.

The Act now states that 0% import duty is applied on all construction goods, fertilizers, environment friendly goods and all food products except those that can be produced locally.

This reduction is proposed to bring about positive changes to the market prices of essential products.

The Ministry of Economic Development has prepared an analysis on the anticipated market prices for 29 essential food products for the year 2011, after the reduction of import duty. The analysis shows that even with the inclusion of 6% GST, and allowing for the same rate of profit as currently applied to the products, the price of these products can reduce between 9% to 13% in the starting year.

In addition to this, the analysis is done to show the anticipated reduction in price of the specific items that are currently available in the market.


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In The News 18 March 2012 Ministry of Economic Development stated on 05th December 2011 that the President ratified the 9th amendment ...