Tuesday, 7 February 2012

Lower Sixth Homework : The Wealth Effect


Paul Daniel's wife asked about another kind of wealth effect!

Dear all,

HW due Weds  8/2

1) Please read over notes on Circular Flow from today's lessons to ensure you understand the example.

2) Use the internet (Economist.com, tutor2u.net, wikipedia, google) to answer these questions:


How do people hold wealth?  What do we mean by a wealthy person?
What is the difference between wealth and income?
Explain what is meant by the wealth effect, using an example.
Bring a unique interesting fact about a wealthy person.

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