I have been in the fund management and real estate industry for more than 13 years. My real life working experience puts me in a good position to educate students in the field of General Paper. My articles have been reproduced in certain publications and print media.
Select Page Economics Tuition: Explain the problems of comparing living standards of Singapore over time by Simon Ng Aug 20, Economic IndicatorsEconomics TuitionJC Economics EssaysMacroeconomicsNational Income Accounting 0 comments In Singapore, the enforcement of a good crime enforcement system has significantly reduced the level of crime rates and illegal activities in Singapore.
Hence, there is an overestimation of the improvement in living standards of Singapore. Furthermore, if the percentage increase in price level or population or both are to rise above the percentage increase in GDP, the percentage increase in real per capita income will not rise, implying that there is no improvement in standard of living SOL.
The increase in national income may not imply that the SOL of the whole nation has improved since the increase in real per capita due to a rise in GDP may not take into consideration the actual distribution of income. This means that not all the citizens will experience rise in real per capita income, indicating an increase in purchasing power.
It is also important to take note of the composition of production. Even if the GDP increases does contribute to growth in production capacity, the low level of production of welfare good such as does not improve the lives of the people.
Lastly, it is imperative to assess the qualitative aspect of standard of living such as the stress level and level of externalities.JC Economics Tutor Simon Ng of Economics Focus has been teaching A Level Economics and A Level General Paper since Simon set up Economics Focus to assist students in their pursuit of academic excellence at the examination by providing economics tuition for H1 and H2 students.
Oct 23, · Similarly, these JC Economics Model Essays are organised into respective Microeconomics and macroeconomics chapters, for clear and order reference. 4.
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Read some of my GP Essays and resources on my GP blog. JC Economics Tutor Simon Ng of Economics Focus has been teaching A Level Economics and A Level General Paper since Simon set up Economics Focus to assist students in their pursuit of academic excellence at the examination by providing economics tuition for H1 and H2 students.
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