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quick question (1 Viewer)

Nasonex

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There was a question in Micro eco policies for short answers worth 2 marks.

I talked about Technical, Allocative and Dynamic efficency, am i right?

cause micro is about improving resource allocation and efficiency --> which i assume was the answer
 

runnable

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Which one is this? The first one defining micro policies?

If so that should be passed IMO. I said micro polcies are policies implemented aimed to improving the productivity and efficiency of an industry. Something like that.



or the one they asked for limitations of micro policies or effects on economy of deregulation of labour/finance?
 
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runnable

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layzeehbum said:
wasnt the question asking to define structural change???

Oh yea thats right. I said it was changing patterns of production of an economy that can be influenced by technological change or changing patterns of consumer demand.
 

Poad

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He's talking about the question "Why might a country implement microeconomic reform?" It came after the "Define structural change" question.
 

nicko1990

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yer, you're right, it does involve a,d and t efficiency. but for a 2 marker you probably needed to explain it, ie. improve productivty and efficiency through deregulation etc. if you did that, you should be sweet
 

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