PreparED Study Materials
Notes
Videos
Deciphering Economic Gears: Calculating Private Investment
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Discover the intricate components of an economy, including savings, budgets, and trade balances. Learn how these elements interconnect and influence private investment. Understand an economic identity that determines an economy's investment levels.
Yen vs Dollar: Decoding Nominal vs Real Exchange Rates in Trade
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Grasp the distinction between nominal and real exchange rates, using the yen and dollar as examples. Learn how these rates influence purchasing power in different economies. Understand their implications in the global trade landscape.
Price Effect in Economics: Navigating Income & Substitution Dynamics
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Explore the nuances of the price effect in economics, focusing on the income and substitution effects. Understand through real-life scenarios how these phenomena influence consumer spending patterns. Gain insights into the intricate dynamics of consumer responses to price shifts.
Positive vs. Normative Economics: Decoding Economic Statements Explain
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Distinguish between positive and normative economic statements with real-world examples. Grasp the difference between objective explanations and value judgments in economics. Master the foundations of economic thought and their application.
"Economics Basics: Circular-Flow Diagram Explained
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Explore the fundamental concept of the circular-flow diagram in economics, which simplifies the intricate interactions between households and firms. Includes examples illustrating how money, labor, and services flow between these economic actors.
Price Elasticity: Mid-Point Method & Its Practical Significance
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Grasp the essentials of price elasticity of demand through various calculation methods. Dive deep into the unique and consistent mid-point method, understanding its relevance in fluctuating markets. Learn its practical application in analyzing market dynamics.