Should I include quotes in a research paper?
This will depend on what kind of research you are doing, but my suggestion is to use quotes sparingly. Paraphrase the author and then cite where you get your information from. One way you can do this is by having a look at one of the quotes that you would like to use. Then, really try and have a solid understanding of the meaning of that quote. Put the article aside and explain, in your own words, what that author said. Lastly, cite where you got this information. Make sure that the quote or paraphrase is really relevant to what you are saying in the paper. This will show that you have a true understanding of the sources you are using and can relate them well to the topic.
If tea and coffee are substitutes and the price of coffee increases, what would happen to the demand for tea?
If consumers enter a store and have a look at tea and coffee, they would choose the product that has the lower price. This is the case with substitutes, which consumers find equally comparable. Similar substitutes could be apples and oranges or coke and pepsi. So, if the price of one rises, the consumer will choose the other good. In this example, the price of coffee increases, so the demand for coffee will decrease, because consumers have the option to choose tea at the lower price. Therefore, the demand for tea will increase.
What is the difference between GDP and GDP per capita?
GDP, or Gross Domestic Product, includes the value of all goods and services that have been produced in a country in the year. Consumption, investments, government purchases, exports and imports are all used to calculate the GDP for a country. However, GDP does not take into account how many people are living in the country. "Per capita" basically means average per person. So, GDP per capita takes the entire GDP for a country and divides it by the number of people in that country. This provides an average amount of goods and services that each person is producing in society, which is useful in measuring productivity. If the GDP per capita rises, it means that productivity in that country has increased. For example, China's GDP may be $11 trillion whereas Germany's GDP $4 trillion. However, China has 1 billion people in the economy, whereas Germany has 80 million. So, when you divide China's GDP by the number of people in its country, each member is producing far less than that of Germany.