Exam Question Review 112 Economics by Natasha Rush https://padlet.com/nrush_fps/v8w27zkn21114zah Helping you prepare for your upcoming mocks en-us 2022-01-05 10:27:19 UTC 2022-01-06 06:40:49 UTC hello@padlet.com kylie https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978000193 Conserving resources such as water or such as coal using electric  cars 

]]> 2022-01-06 05:50:06 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978000193 Rafael Brunner https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978001136 The economy would become weaker. That is because there would be higher unemployment. This would lead into consumers to have an average of a lower spending money.


]]> 2022-01-06 05:50:56 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978001136 Minah https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978003606 A recession labels the downfall of an economy. During this period the employment rate in the UAE would decline which would lead to a decrease in overall earnings. However, this also has potential to increase income inequality among UAE residents. ]]> 2022-01-06 05:53:16 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978003606 Aman amansehmi https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978003897 An impact of a falling consumer income will greatly affect the prices of products and services. The demand will go down therefore firms will be forced to decrease prices to gain supply demand equilibrium. ]]> 2022-01-06 05:53:34 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978003897 Rafael https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978005545 Falling consumer income is a lower consumer income. This leads people to want to save their money, resulting in them buying less from companies. This ends up slowing down the flow of cash in the economy

]]> 2022-01-06 05:55:08 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978005545 Akram https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978006027 A impact of recession in the Uae is less revenue to businesses, meaning businesses will not be able to pay overheads this could result in less supply therefore businesses will need to rise prices this could mean that it could be out of the customer income available leading to lower sales ]]> 2022-01-06 05:55:31 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978006027 kylie https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978006074 demand will fall as many of the consumers income will be decrased. Making the consumers  unable to afford  the goods .


]]> 2022-01-06 05:55:34 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978006074 Eshaal https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978006962 One way is by implementing laws that protect the environment. This is because company’s will want to avoid fines that can potentially decrease their profit and for the business to fail. As a result the business will be more careful and avoid doing things that can harm the environment. ]]> 2022-01-06 05:56:25 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978006962 Zahra Al Kharusi https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978007922 One impact of a recession on the UAE economy is an increase in unemployment. Because firms will be incapable to maintain high total costs, budget cuts may result in employees losing jobs. Moreover this could lead to a further recession of the UAE economy because of low disposable income in the economy.]]> 2022-01-06 05:57:22 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978007922 Akram https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978008992 Recycled materials, this will make customers feel as if they’re doing good this leads to customer satisfaction therefore this could make customers spread the word about the business resulting in more revenue for the business ]]> 2022-01-06 05:58:29 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978008992 Aman amansehmi https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978009258 A method is to impose taxes on firms that are  mass producers of pollution. The government would need to impose a punishment for firms not abiding by the current environmental standards such as fines which would result in firms being more careful in the quantity that they produce in and they would opt for more sustainable materials.]]> 2022-01-06 05:58:47 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978009258 Zahra Al Kharusi https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978010946 One method of protecting the environment would be implementing permits or regulations. That could limit a business to emit a certain amount of pollution until they will be find. This could lead to more businesses being more cautious and continue activity in a more ethical manner without harm of the environment because their business image and profits would be at risk.]]> 2022-01-06 06:00:38 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978010946 Minah https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978011360 An interest rate is “the amount charged on top of the principal by a lender to a borrower for the use of assets”. If interest rates were to be decreased in the UK then consumers would be willing to borrow more money. This will cause people to spend more which will assist the economy to grow. As a result of increasing expenditures, the UK government could increase the inflation rate as demand for goods and services increases. ]]> 2022-01-06 06:01:03 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978011360 Akram https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978012977 This could lead customers to save their cash, this means that less customers are purchasing goods/services this results in business needing to unemployment so businesses could still function with less revenue. Therefore this could decrease living environments and increase homelessness ]]> 2022-01-06 06:02:43 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978012977 kylie https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978013276 an increase in tourism which can lead to increase consumption which causes   an increase  in the gdp. However  it can increase the pollution as more people are going to consume goods.

]]> 2022-01-06 06:03:04 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978013276 Farah https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978014295 One impact of recession on the UAE is an increase in unemployment. This is because during a recession, firms will not be able to pay employees as much as they used to. This may lead to employees losing their jobs. Therefore, this could also affect their production rates and thus decrease the outputs produced and therefore less sales and revenue into the economy. ]]> 2022-01-06 06:03:53 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978014295 Nada https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978014489 One of the many ways to protect the environment its to reduce carbon foot print in the country. This can be done by investing into renewable energy and reducing plastic waste by adding taxes on such materials 


]]> 2022-01-06 06:03:58 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978014489 sara https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978016262 Decreasing interest rates in the UK can come with many advantages and disadvantages. One key impact of decreasing interest rates is that it makes borrowing and spending more attractive to consumers, therefore demand may increase towards certain goods and services which could potentially increase economic growth. On the other hand, if consumers begin to spend more due to saving becoming less attractive, this can cause an abnormal increase in demand towards goods and lead to demand-pull inflation, which can heavily impact economic growth and stifle consumers purchasing abilities as well as suppliers capability of producing any goods. ]]> 2022-01-06 06:05:43 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978016262 Zahra Al Kharusi https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978017355 A beneficial impact of lowering interest rates in an economy would be increased expenditure and demand in the economy. Because of increased disposable income for individuals when borrowing money they have more money to spend and there fore has the economic advantage of increasing the gdp. This could lead to an outward shift in the economy because of high productivity.

However a drawback to decreasing interest rates would be a rapid increase in inflation. Because individuals have more capital to spend freely this may lead to demand pull inflation which could result in a crash in the market and lead the economy into a recession.]]> 2022-01-06 06:06:49 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978017355 Akram https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978018702 Less discrimination, this means there is less inequality in a business environment this leads to a increase in productivity, resulting in better quality output. Another way is increasing minimum wage, this will lead to less money saved by consumers, this more businesses having better cash flow, therefore higher living standards.  ]]> 2022-01-06 06:08:15 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978018702 Aman amansehmi https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978019224 Government intervention is extremely important for the well-being and growth of some firms. The government could provide subsidies to startup firms if they believe that they are reliable to produce a solid income in order to boost the economy. Furthermore, if a business is struggling to sustain its costs, then the government could provide subsidies to assist them. 

On the other hand, this could be a negative to industries as, if the government is only helping one firm, then the other firms might revolt and think there is a bias. If one company is helped then it could progress even more than its competitors to upgrade all of their facilities which would mean consumers might choose the assisted firms over the rest.

]]> 2022-01-06 06:08:44 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978019224 Nada https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978019792 People will have less money to spend if their earnings fall. They will buy fewer products and services because they will be content with what they have. If they do spend they would purchase cheaper items or second hand items. This would definatley effect  supply and demand which is one of the foundations of the market. 

]]> 2022-01-06 06:09:11 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978019792 Farah https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978020389 One method of protecting the environment is by placing fines and regulations. This would help because it would potentially limit the amount of pollution caused by businesses or else they would be fined. This would lead to firms acting in a more ethical way knowing that their business's reputation and profit levels may be impacted. Therefore, the economy and the environment would be in less harm.]]> 2022-01-06 06:09:38 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978020389 Eva https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978021525 An interest rate is the amount of interest due per period, as a proportion of the amount borrowed. If interest rates would decrease in the UK unemployment would rise as companies lay off expensive workers and hire contractors and temporary or part-time workers at lower prices. This will lead to wages decline, people won’t be able to pay for things and prices on goods and services will be forced down. This will lead to more unemployment in the UK and lower wages. Furthermore, lowering rates makes borrowing money cheaper. This encourages consumer and business spending. Thus the inflation rate will be increase due to more spending. Lowering rates, can also lead to problems such as inflation in the UK.]]> 2022-01-06 06:10:56 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978021525 Max https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978021545 Privatizing education can have a negative effect due to schools becoming profit focused. This can lead to many children not receiving an education due to not being able to afford it. Therefore the labor market may have an influx of low-skilled workers suddenly enter the market which can lead to a larger secondary or primary sector. However on the other hand it could have a positive effect. If there are more low-skilled workers in the economy then a country does not have to rely on immigrants. This can lead to less employee shortages in places such as factories and extracting natural resources. Therefore this can lead to the government being able to balance their payments as they have to import less.]]> 2022-01-06 06:10:58 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978021545 Rohail https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978023534 An impact of government intervention would be that employees/workers would be treated fairly by not having any discrimination, this can lead to more amount of people persuaded to work, therefore increasing employment 

Another impact of government intervention on the labor market would be that the government will place a minimum wage for every worker, making sure they are paid in sure per hour another benefit to the labor is that the government sets maximum working week, this creates a more hard working environment in the labor market]]> 2022-01-06 06:13:02 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978023534 Akram https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978024680 This will lead to a increase in unemployment since machines don’t need to be payed, this could cause less income to customers this leads customers to save money, resulting in less revenue to the business. Machinery are also expensive to repair this could lead businesses to pay of their cash to maintenance, this could lead businesses having less cash to pay overheads, this could result in less profit to the business therefore lead to business failure ]]> 2022-01-06 06:14:11 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978024680 Omar https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978025347 One method of protecting the environment is to use reusable bags, this decreases the waste of plastic for example in the ocean, leading to environmental damage
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]]> 2022-01-06 06:14:52 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978025347 Eva https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978028810 If consumers income falls, people will have less money to spend.This will lead to people  buying fewer goods and services, as they will make do with what they already have.
Thus, firms will decrease their prices slowing down the cash flow in the economy
]]> 2022-01-06 06:17:52 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978028810 Omar https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978028891 If consumers incomes fall, people will have less disposable income, meaning they will buy fewer goods and services, meaning some firms will have to decrease the price of their products, this could cause loss of money]]> 2022-01-06 06:17:57 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978028891 Nada https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978028960 An impact of a recession on the economy would result in lower incomes, becaiuse there would be a decline in economic activity since people will spend less. Which will affect demand. This would also mean people would los there jobs and would increase poverty]]> 2022-01-06 06:18:01 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978028960 Zahra Al Kharusi https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978031274 Expo is an infamous event that will attract tourists from all over the globe to unite in the UAE. I believe that this  Expo events has many benefits as it brings many tourists into the country which is one of the ways the UAE finances it’s economy. However I will discuss aswell the potential drawbacks to this globally recognized event. 

One benefit to the expo being in Dubai is an increase in opportunities for jobs. As hotels, restaurants, the expo event open to cater to the large number of tourists that will visit the event, this could bring in more job opportunities to the residents. Moreover, this could strengthen the UAE’s economy due to low unemployment levels aswell as workers being in higher working sectors for example secondary and tertiary.  This could lead to a growth of confidence in the UAE economy aswell as an outward shift due to the expo being held in the UAE.

However a drawback to expo being held in the UAE is scarcity of resources. Because of the high increase in demand for all goods in the economy due to the larger population that will have to be held in the UAE due to tourists visiting from across the world. They must be able to provide all of the resources and ensure supply meets demand. Moreover, potentially scarce resources could lead to unsatisfied tourists and bad publicity which could lead to a downfall in the UAE’s economy because of supply unable to meet demand that has increased due to expo 2020 being held in the UAE.]]> 2022-01-06 06:20:23 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978031274 Farah https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978032066 One impact of decreasing interest rates in the UK is that consumer spending and borrowing would be more attractive to customers. This would lead to demands increasing on goods and services. Therefore, this could potentially result in a huge growth in the economy. 

On the other hand, if the interest rates in the Uk decreases too much this could result in inflation. This is because consumer spending and confidence would also increase and are then willing to spend more on goods and services. This would lead to demand-pull inflation. Therefore, people would move out of the UK due to the increased prices and thus, the economy might fall.]]> 2022-01-06 06:21:08 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978032066 Max https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978032608 The World cup can have a positive impact on the Qatari economy. This is because it will generate a large amount of tourism related to the world cup and a large amount of international attention. This can lead to Qatar having a larger tourism industry and being able to diversify their economy and steer away from finite resources like oil and natural gas. Therefore Qatar will be able to maintain its wealth well into the future even after its natural resources are depleted. On the other hand it could have a negative impact on the Qatari economy. This is because it is very expensive and Qatar lacks the infrastructure. This can lead to a large amount of immigrant workers being exploited and hurried to create the necessary infrastructure. This can lead to many boycotts and reputation issues. Therefore their world cup may not get the desired result and might just be a costly mistake which discourages tourists from coming. As a result the Qatari economy will take a huge hit and the tourism industry may fail. However the world cup is such an important event globally that I believe it will have a positive impact on the economy due to the increased tourism and international attention.]]> 2022-01-06 06:21:43 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978032608 Akram https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978034268 People will be more willing to borrow more cash, this gives them more money to spend on goods/ survives this could lead to more revenue to the business, this will help the business to innovate more and higher quality products, this could lead to more demand for a business result businesses increasing their survival rate this could lead to better living standards increasing economic growth by tourism . However if too much cash was loaned it could lead the economy to a recession meaning they will make the government to print more money but this will decrease the currency rate therefore less imports and exports ]]> 2022-01-06 06:23:26 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978034268 sara https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978039029 introducing automation and technology can increase the productivity of a firm which leads to an increase in production and efficiency. This is because external factors such as demotivation or lack of skill in labor workers cannot affect the production of the goods, as well as vacations or lack of attendance of workers cannot impact production if technology was used. Technology can increase production rates with no breaks, as well as it may be a great investment to firms since the total costs can be reduced and manufacturing methods can be simplified. On the other hand, this may decrease the amount of employment on labor workers or lead to unemployment, and may potentially not benefit small firms as the investments towards technology may be misfitting (ie maintenance, expenses, and daily moderation). In addition, technology is mostly used to mass-produce or produce in bulk which is not appropriate for certain skill-based goods that require labor to produce. ]]> 2022-01-06 06:28:18 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978039029 Max https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978042737 if there is less consumer income then people will have less money to afford products and services. This can lead to businesses cutting costs by firing staff. Therefore this can lead to higher unemployment rates and even lower consumer income. As a result this can cause inflation as firms put their prices up to cover costs]]> 2022-01-06 06:32:10 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978042737 sara https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978045006 recession is an economic crisis a country may face which can lead to higher unemployment rates, poverty, minimum trading and zero to no economic growth and stability. This can impact the UAE significantly since most of the UAE's source of income is through trading transactions and foreign relations.]]> 2022-01-06 06:34:22 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978045006 Farah https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978051472 Expo is a very famous event that happens all around the world. Having Expo in the UAE would attract tourists from all over the world to unite here in the UAE. In my opinion, I think that the Expo event has may benefits to the UAE. One of the benefits is that it has increased tourists in the UAE which is mainly how the UAE brings in finance to the economy.

One benefit to having Expo in the UAE is that it would increase job opportunities. This is because there has been many more restaurants and hotels opening up in Expo to cater their large number of visitors, this opens up a lot of job opportunities to many people. This could lead to a more strong economy due to the falling rates of unemployment as well as having many employees working in the tertiary sector rather than primary and secondary. Therefore, the UAE economy's confidence may rise and increases in revenue may cause an economic growth.

On the other hand, having expo being held in the UAE may be a disadvantage due to the scarce resources available. This is because of the high demand in raw materials to build the different expo pavilions and scarce goods in the economy due to the large population. This may lead to having unsatisfied customers and tourists from the scarce resources. Therefore, this can result in a bad publicity and could lead to a fall in the UAE economy due to not being able to meet customer demands.

]]> 2022-01-06 06:40:49 UTC https://padlet.com/nrush_fps/v8w27zkn21114zah/wish/1978051472