Enable contrast version

Tutor profile: Panagiotis K.

Inactive
Panagiotis K.
Economics, Finance and Maths tutor for two years
Tutor Satisfaction Guarantee

Questions

Subject: Finance

TutorMe
Question:

3. Is a high Degree of Operating Leverage (DOL) always desirable?

Inactive
Panagiotis K.
Answer:

DOL is the coefficient by which sales profits increase for every extra unit of sales. It may be erroneously concluded that a high DOL is always desirable as it leads to faster and greater profits. However, businesses that are operating in industries susceptible to economic conditions such as steel, automotive, high tech, top brand clothes or businesses susceptible to seasonality may face big changes in net operating income when the market is tumultuous thus facing significant losses when sales are reduced.

Subject: Macroeconomics

TutorMe
Question:

Kenya just reported that its GPD is 20% higher than previously thought. Give some reasons for how this could have happened. What does this tell you in general about the measurement of GDP? Is GDP a good measure of country-level welfare?

Inactive
Panagiotis K.
Answer:

Mis-measurement in economic activity, where the weights attached to specific sectoral growth are outdated (e.g. underestimate of weight in GDP of faster-growing sectors). If growth in the faster-growing sector is under-estimated for longer periods, this implies under-estimate of their weight in GDP. In general: GDP numbers are estimates, and not exact!

Subject: Microeconomics

TutorMe
Question:

On 15 January 2015, the Swiss Franc appreciated by 20 per cent, making ski holidays for non- Swiss suddenly 20 per cent more expensive. What effect do you expect from this appreciation on demand for Swiss ski holidays in the short-run (for ski holidays 2015) and in the long-run? Use this example to illustrate the difference between short- and long-term price elasticity.

Inactive
Panagiotis K.
Answer:

In short-term, little change in demand, as most tourists will already have booked their holiday. In short-run In the short run, demand is likely to be more inelastic as consumers don't have time to find alternatives. However, in the long-term, there will be a reduction in demand consumers become more aware of alternatives and may find substantial goods. To sum up, Short-run: low price elasticity; long-run: high price elasticity.

Contact tutor

Send a message explaining your
needs and Panagiotis will reply soon.
Contact Panagiotis

Request lesson

Ready now? Request a lesson.
Start Lesson

FAQs

What is a lesson?
A lesson is virtual lesson space on our platform where you and a tutor can communicate. You'll have the option to communicate using video/audio as well as text chat. You can also upload documents, edit papers in real time and use our cutting-edge virtual whiteboard.
How do I begin a lesson?
If the tutor is currently online, you can click the "Start Lesson" button above. If they are offline, you can always send them a message to schedule a lesson.
Who are TutorMe tutors?
Many of our tutors are current college students or recent graduates of top-tier universities like MIT, Harvard and USC. TutorMe has thousands of top-quality tutors available to work with you.