:: exam stress relief ::

econs stuff

in the midst of studying of exams... i realise that as u get older, its harder to get the brain juice flowing!!! read the text like ten times but the words are somesort floating in the mind, not yet processed. Time take for the words to be formed into logical sentences and then get processed into logical paragraphs take a truly long freaking time. By the time i finally understand wat it means, i feel so tired.

Damn international trade. Full of International economics.
So much for econs being interesting.
It's dry when all the text refers to is wheat and cloth in the taiwan and aussie market.
Aussie is labour abundunt and Taiwan is capital abundunt.
Wheat is a labour intensive product and cloth is a capital intensive product.
Each country should speciallise in the product in which they have comparative advantage.
A country may have absolute advantage in both products but they can only have comparative advantage in one product. With the introduction of a tariff / subsidy. Which one is better? Which one will cause more loss to the economy as a whole? Which one will cause labour cost to increase but the marginal product of labour to decrease. Yawnz..

omg... i better continue studying.... crap...

+ vodka cat updated @ 2:25 pm

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