ECONOMICS
INFLATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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relevant labelled economic diagrams
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literary prose that makes it more exciting to read
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longer sentences that have more information in it to impress examiners
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dates and quotes from important economic figures and theorists
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Detailed explanation-1: -Importance of Graphs in Economics Economics graphs simplify numerical data for easier readability without losing detail. However, economics graphs are also important because they illustrate the relationships and connections between different variables or concepts in economics.
Detailed explanation-2: -Movements along the curve dictate the relationship between the variable on the x-axis and the y-axis (i.e. on the demand curve, higher prices correspond to lower quantities and lower prices correspond to higher quantities).
Detailed explanation-3: -The circular flow model demonstrates how money moves from producers to households and back again in an endless loop. In an economy, money moves from producers to workers as wages and then back from workers to producers as workers spend money on products and services.
Detailed explanation-4: -Read recommended material. Make sure you answer the question. Your essay should be ‘full’ Show your understanding / be accurate. Structure your essay. Be coherent and clear. Be Rigorous / Use appropriate methods / Use appropriate detail. More items