Economics (d) by Lloyd James Dell https://padlet.com/lloyd_d/5rl1ab8xc6j3 In 2013, an earthquake on the Iran/Pakistan border destroyed many factories and homes. Some officials wanted the Governments to rebuild the factories and homes, even though there would be an opportunity cost. Others suggested that some people should be encouraged to emigrate. (a) Define ‘opportunity cost’. [2] (b) Explain why the economic problem can never be solved. [4] (c) Using a production possibility curve diagram, analyse the effect of the destruction of some of its resources on an economy. [6] (d) Discuss whether a country will benefit from the emigration of some of its people. [8] en-us 2018-03-01 03:21:24 UTC 2023-02-04 16:03:28 UTC hello@padlet.com https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236763618 2018-03-01 03:33:02 UTC https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236763618 Help] https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236763727 Ur 
Welcome

]]> 2018-03-01 03:33:38 UTC https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236763727 D https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236763755 Yes:
1. Bring new skills from the country if return.
2. Increases labour productivity. 
3. Send money back from working in that country.
4. Increase inflow of currency in the country.

No:
1. Skilled workers may emigrate.
2. This reduces quality of labour force.
3. If people of working age emigrate.
4. Dependency ratio will increase.
]]> 2018-03-01 03:33:44 UTC https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236763755 [3] https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236763903 Emigration lowers the working population, reducing the working force, thus aggregate demand shifts to the left and less output is produced, causing GDP growth and economic growth to slow

However, lower population means less to cater for, reducing the burden on the government and industries]]> 2018-03-01 03:34:38 UTC https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236763903 QD) https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764016 Will:
Emigration would reduce the working population in which there would be lesser supply of workers.This means that firms will offer higher wages and fringe benefits to workers.Higher wages will increase the spending power of goods and services.This would eventually result in an increase in GDP and economic growth.Secondly,Emigration could mean that useless,unskilled,unproductive workers are removed.This means that firms will only retain skilled workers.Skilled workers are more productive and efficient in producing output.More output will result in an increasw in GDP.

Will not:
The country will not benefit as there would be lesser working population in which would result in lower efficiency in producing output.There would eventually be a fall in the country's GDP.On the other hand,there could be a reduction in profit from firms,as there would be lesser entrepreneur.Lesser entrepreneur means that there would be lesser people running the business which could result in failure of firms and then a decrease in gdp.]]> 2018-03-01 03:35:14 UTC https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764016 https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764029 yes:
1) reduce unemployment in the country, as more people leave there will be more jobs that are available, so those who are unemployed will be able to takenover the job
2) reducing unemployment will also boost aggregate demand as more people will demand for goods as theyre able to afford it, increasing the gdp
3) less congestion for the country, social cost decreases

no:
1) because aggregate demand may increase, this could also lead to inflation, which means the cost of living is higher, may lead to a decrease in standards of living
2) skilled workers may leave the country, so the productivity will decrease and resources will be produced less efficiently]]> 2018-03-01 03:35:19 UTC https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764029 https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764189 For
1) more resources for the remaining population 
2)lesser burden on pensions
3) increase dependency ratio
Against
1) Lesser tax revenue for the government
2)Decrease in aggregate demand, decrease in output, decrease in GDP, decline in economic growth
3) Reduce unemployment

]]> 2018-03-01 03:36:23 UTC https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764189 3 mark https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764244 reducing the population of the country could decrease the unemployment rate and therefore increase wages for the people in the country and finally increase standard of living]]> 2018-03-01 03:36:42 UTC https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764244 https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764273 if there is emigration, there would be less people to work resulting in a lower output of goods and services. because of this the gdp of a country might fall ]]> 2018-03-01 03:36:52 UTC https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764273 4 marks https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764384 As people emigrate, there will be a lower population. This means that there will be less firms and businesses. This results in less good and services produced. The aggregate demand will decrease and so the GDP will decrease as well. If people emigrate away, skilled workers might leave the country, making the quality of goods decrease. If the working population emigrates, the dependency ratio will also decrease. ]]> 2018-03-01 03:37:35 UTC https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764384 [1] https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764463 Emigration causes the population to decrease, meaning less taxes can be collected for the government to spend on public goods and services.]]> 2018-03-01 03:38:06 UTC https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764463 https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764918 Reduce unemployment, aggregate demand increases]]> 2018-03-01 03:40:07 UTC https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236764918 [1] https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236765145 Less population means less burden on the government to cater for them, and a smaller population is easier to handle with less resources]]> 2018-03-01 03:41:13 UTC https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236765145 1(0w0)1 https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236765709 Less population means less pension funds needed to be paid to the elderly 1

It means more job openings and reduces the unemployment rate for locals 1

]]> 2018-03-01 03:44:08 UTC https://padlet.com/lloyd_d/5rl1ab8xc6j3/wish/236765709