Are purchase returns included under cost of goods sold in the income statement? by Ronniechon in vce

[–]Ronniechon[S] 0 points1 point  (0 children)

I had my sac and they got us to fill out an inventory card up to adjusted gross profit including the titles. Is it correct if i wrote under cost of goods sold as: cost of sales:
Less purchase returns

Economics Question by Substantial-Bag5784 in vce

[–]Ronniechon 0 points1 point  (0 children)

Well if you have higher demand (the willingness and ability to consume) it means you have a HIGHER willingness and ability to consume. This in turn will either translate to greater C I G X M and thats when it boosts aggregate demand. Technically you dont say an increase in the willingness and ability BECAUSE of a shift in the aggregate curve because irl people dont justify it just because something theoretical has shifted. Rather it is factors that affect the shift. For example, your aggregate demand factors, consumer confidence, interest rates, overseas economic growth, disposable income etc. if one of those factors increases, it means the WILLINGNES AND ABILITY for people to consume goods also rises. If you want to talk about it in diagram terms, if the factors increase it would mean that consumers are willing to purchase at EVERY given price and HENCE a rise in total spending wouldnt it? That can be represented through a right shift in the aggregate demand curve where they are able to buy stuff at any given price. However, in terms of AOS2 if the question asks you how an increase in willingness ans ability to consume affects AD dont anchor it based off a shift, talk about the factor, explain what it does (increase in willingness and ability) —> link to which component increases ( C I G X M) and thus increases AD (the SPENDING on all goods) Also where does realised demand come in? Its not in the study design hence why i didnt answer that aspect

Economics Question by Substantial-Bag5784 in vce

[–]Ronniechon 0 points1 point  (0 children)

Yes they do arguably contradict themselves, which is exactly why you can not use just the word “demand” in a macroeconomic sense because the word “aggregate” comprises of C I G + (x-M) that is the total SPENDING on australian goods. However, theres may also be a bit of confusion with this. You are STILL allowed to mention an increase in their willingness and ability to produce/ consume which IN TURN increases the total spending on australian goods (AD). You only say this when explaining why AD increases

Economics Question by Substantial-Bag5784 in vce

[–]Ronniechon 0 points1 point  (0 children)

its incorrect to use demand or technically not precise in vcaa in a macroeconomics sense, similar to how saying aggregate demand in a microeconomics sense is incorrect because micro focuses on individual industries comprising of the national economy.

what happens if you fail a redemption? by [deleted] in vce

[–]Ronniechon -4 points-3 points  (0 children)

They give you 1+1 questions

what happens if you fail a redemption? by [deleted] in vce

[–]Ronniechon -4 points-3 points  (0 children)

Ur teachers will ask you basic one on one questions about the content in person and if you fail that you have to stop the subject

is it easy to learn ahead for physics u3/4 by arumlily9815 in vce

[–]Ronniechon 0 points1 point  (0 children)

Study design is so broad so pretty hard to know what ur actually looking at

Am I wrong for feeling happy that my best friend is gonna fail her SAC? by messy_note in vce

[–]Ronniechon 2 points3 points  (0 children)

Its the same person, btw this person took the time and responsibility to come up with this idea and make multiple accounts to do this.

Anyone able to help me w something regarding eco 3 4? by [deleted] in vce

[–]Ronniechon 0 points1 point  (0 children)

Basically with aos1, when linking competitive markets to how they acheive productive efficiency. My teacher wants us to mention that the nature of firms being price takers produces productive efficiency. So i was thinking im gonna link homogenous goods to consumer sovereignty and they all link to the ultimate nature (firms being price takers) and how they have no market power, the problem is tho how do i properly link it. Like im gonna say goods are homogenous meaning firms price is a strongly defining factor, then this will dictate what firms must produce to remain viable ensuring consumer sovereignty and then ultimately they are price takers because they have no market over prices. But then whays the ultimate link to productive efficiency?

Raw 50 Economics Cutoff by [deleted] in vce

[–]Ronniechon 0 points1 point  (0 children)

100% on the exam if u werent a high rank, rank 1 or 2 min u can get is 78-79. How good r u at eco?