Self-tutoring: old-time economics students like to track certain relationships. The tutor mentions the US deficit vs GDP. For 2018, the US deficit is estimated at $804B, while its GDP is around 19.4T. In percent, the deficit to GDP is 804 …
Reading about economics means self-tutoring. The tutor discusses the disadvantage – or advantage, of the US trade deficit. The US has run a trade deficit since the late 70s. Simply put, a trade deficit means that the country’s imports are …
Economics, business: the US trade deficit: good or bad? (Part 0) Read more »
Tutoring a number of subjects, the term mercantilism might arise. The tutor defines it. mercantilism economic policy that favours exports, discourages imports, and has the objective of amassing precious metals. Source: Barber, Katherine et al. Oxford Canadian Dictionary of Current …
English, economics, history: what is mercantilism? Read more »
Tutoring statistics, confidence intervals are important. A two-sided confidence interval for the population mean is given by sample_mean – (standard_dev/n1/2)*sig_factor, sample_mean + (standard_dev/n1/2)*sig_factor The sig_factor (significance factor) depends on the certainty (confidence level) with which we want the confidence interval …
Statistics: confidence interval for the mean (two sided) Read more »
The tutor probes more deeply into the concept of the US trade deficit. In my January 1 post I began about the US trade deficit, mentioning, for example, that it’s exceeded $500 billion per year over the last ten years. …
The tutor compares big business with small business. In yesterday’s post I talked about firms in monopolistic competition – the situation characterized by negligible boundary to entry large number of small firms competing average long-run profit approx. zero Oligopoly is …
Economics: oligopoly vs monopolistic competition Read more »
The tutor looks into monopolistic competition and the long-run trend faced by its entrants. Monopolistic competition exists, in a given business, when there is free entry – that is, when starting a new enterprise engaged in that business is easy. …
Economics: small business: monopolistic competition Read more »
The tutor works a word problem to find time until market share equalization. Imagine a relatively new device, of which there are two competing versions, A and B. (We assume that no-one owns both.) The potential market is 100 million, …
Business math: a word problem about market share. Read more »
The tutor looks into the export of US dollars. Since sometime in the late 1970s, US imports have exceeded exports. More specifically, the US trade deficit has exceeded $500 billion per year over the last ten years. A casual observer …
The tutor looks into why oil is less than half its price two years ago. Back when oil was over $100, I thought I understood the reason: China, India, and other developing countries have a growing middle class. Those swelling …
Business and Economics: The price of oil, Part II Read more »