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ULC ECONS 55
Laatste content AQA • ULC ECONS
Point Estimator - ANS Estimates the value of an unknown parameter using a single value 
Interval Estimator - ANS Draws inferences about a population parameter using an interval 
Unbiased Estimator - ANS Has an expected value (long-run average) which equals the parameter being 
estimated 
Consistent - ANS Approaches the value of the parameter it is estimating as the sample size increases 
Relative Efficiency - ANS If there are two unbiased estimators of a parameter, the one whose variance is 
sma...
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Point Estimator - ANS Estimates the value of an unknown parameter using a single value 
Interval Estimator - ANS Draws inferences about a population parameter using an interval 
Unbiased Estimator - ANS Has an expected value (long-run average) which equals the parameter being 
estimated 
Consistent - ANS Approaches the value of the parameter it is estimating as the sample size increases 
Relative Efficiency - ANS If there are two unbiased estimators of a parameter, the one whose variance is 
sma...
To come - ANS Aanaa, Aaie, aao, mera dost aata hai 
To go - ANS Jaana, jaie, jao, main ravivaar ko shopping par jaata hoon 
To sleep - ANS Sona,soie, so, Mera papa har raat aath ghante sota hain. 
To get up - ANS Uthna, Uthae, Utho, Main har roz saath baje uthata hoon 
To wake up - ANS Jaagna, jaagie, jago, Mera bhai dus baje jagata (?) hain. 
To tell - ANS Bataana, batiye, batao, main tumhe sab kutch bataata hoon 
To speak - ANS Bolna, boliye, bolo, ve thora Hindi bolte hain. 
To say - ANS Kahn...
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To come - ANS Aanaa, Aaie, aao, mera dost aata hai 
To go - ANS Jaana, jaie, jao, main ravivaar ko shopping par jaata hoon 
To sleep - ANS Sona,soie, so, Mera papa har raat aath ghante sota hain. 
To get up - ANS Uthna, Uthae, Utho, Main har roz saath baje uthata hoon 
To wake up - ANS Jaagna, jaagie, jago, Mera bhai dus baje jagata (?) hain. 
To tell - ANS Bataana, batiye, batao, main tumhe sab kutch bataata hoon 
To speak - ANS Bolna, boliye, bolo, ve thora Hindi bolte hain. 
To say - ANS Kahn...
Introduction question - ANS - Graduated from UCL, BSc economics 
- student club 
- RB case competition 
- hobbies: free-diving (AIDA certification) 
Why LBS (why school) - ANS - Alumni: 
- Professional development 
- gift trip 
Why MiM programme (not mfa) - ANS - practical designed courses 
- diverse and global outlook 
- employment data as proof 
Why postgraduate? - ANS - connection with likeminded inviduals 
- enhance career prospects 
Student association or club - ANS - Women in business: (co...
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Introduction question - ANS - Graduated from UCL, BSc economics 
- student club 
- RB case competition 
- hobbies: free-diving (AIDA certification) 
Why LBS (why school) - ANS - Alumni: 
- Professional development 
- gift trip 
Why MiM programme (not mfa) - ANS - practical designed courses 
- diverse and global outlook 
- employment data as proof 
Why postgraduate? - ANS - connection with likeminded inviduals 
- enhance career prospects 
Student association or club - ANS - Women in business: (co...
Describe the location - ANS -South East England 
-Capital of England 
-River Thames runs through it 
-Bordered by counties such as Kent, Essex and Buckinghamshire 
-Population of 9 million - expected to reach 10 million in 2030 
What is the importance of London? - ANS -Transport links - M25, rail links nationally, 4 major 
international airports 
55% of the UK's foreign direct investment is into London and the South East 
-Major learning centres, e.g. UCL and imperial college, museums 
-Movemen...
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Describe the location - ANS -South East England 
-Capital of England 
-River Thames runs through it 
-Bordered by counties such as Kent, Essex and Buckinghamshire 
-Population of 9 million - expected to reach 10 million in 2030 
What is the importance of London? - ANS -Transport links - M25, rail links nationally, 4 major 
international airports 
55% of the UK's foreign direct investment is into London and the South East 
-Major learning centres, e.g. UCL and imperial college, museums 
-Movemen...
Define - ANS Research done over long period of time where sample stays the same 
Why use them? - ANS - allows to measure society over time 
- allows comparisons to be made 
- correlations can be identified 
- cause and effect relationship established 
- measure things like poverty over life chances 
Example- 7Up series 1964 - ANS - followed lives of 14 British children aged 7 from different backgrounds 
- returned every 7 years to see how their lives changed 
- most recent documentary 63 Up was ...
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Define - ANS Research done over long period of time where sample stays the same 
Why use them? - ANS - allows to measure society over time 
- allows comparisons to be made 
- correlations can be identified 
- cause and effect relationship established 
- measure things like poverty over life chances 
Example- 7Up series 1964 - ANS - followed lives of 14 British children aged 7 from different backgrounds 
- returned every 7 years to see how their lives changed 
- most recent documentary 63 Up was ...
In the liver what is the role of the gall bladder ? 
your gall bladder where bile is produced and transported via the bile duct releasing the bile into the 
duodenum 
Answer = Bile production 
What is the definition of cholestasis 
Cholestasis = The reduced bile secretion or flow due to problem with hepatocytes production of bile 
acid 
or 
a blockage of the gall bladder or associated ducts that help transport bile. 
The liver has metabolic, synthetic and excretory functions, what are the metabo...
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In the liver what is the role of the gall bladder ? 
your gall bladder where bile is produced and transported via the bile duct releasing the bile into the 
duodenum 
Answer = Bile production 
What is the definition of cholestasis 
Cholestasis = The reduced bile secretion or flow due to problem with hepatocytes production of bile 
acid 
or 
a blockage of the gall bladder or associated ducts that help transport bile. 
The liver has metabolic, synthetic and excretory functions, what are the metabo...
Which of the following is the best example of opportunity cost? 
Select one: 
a. a company's expenditures on a training program for its employees 
b. the rate of return on a company's investment 
c. the amount of money that a company can earn by depositing excess funds in a money market fund 
d. the profit that a company forgoes when it decides to drop one product line in favor of another one - 
ANS d. the profit that a company forgoes when it decides to drop one product line in favor of anoth...
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Which of the following is the best example of opportunity cost? 
Select one: 
a. a company's expenditures on a training program for its employees 
b. the rate of return on a company's investment 
c. the amount of money that a company can earn by depositing excess funds in a money market fund 
d. the profit that a company forgoes when it decides to drop one product line in favor of another one - 
ANS d. the profit that a company forgoes when it decides to drop one product line in favor of anoth...
Net Present Value (NPV) - ANS = cash flow / [(1+ discount rate)^ number of years] 
profitability index - ANS = present value of future cash flows / initial investment 
ex-rights price equation - ANS = (value of existing shares + value of new shares) / (# of shares) 
CAPM - ANS Cost of equity = cost risk free + beta * (cost of market - cost risk free)
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Net Present Value (NPV) - ANS = cash flow / [(1+ discount rate)^ number of years] 
profitability index - ANS = present value of future cash flows / initial investment 
ex-rights price equation - ANS = (value of existing shares + value of new shares) / (# of shares) 
CAPM - ANS Cost of equity = cost risk free + beta * (cost of market - cost risk free)
Net Present Value (NPV) - ANS = cash flow / [(1+ discount rate)^ number of years] 
profitability index - ANS = present value of future cash flows / initial investment 
ex-rights price equation - ANS = (value of existing shares + value of new shares) / (# of shares) 
CAPM - ANS Cost of equity = cost risk free + beta * (cost of market - cost risk free)
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Net Present Value (NPV) - ANS = cash flow / [(1+ discount rate)^ number of years] 
profitability index - ANS = present value of future cash flows / initial investment 
ex-rights price equation - ANS = (value of existing shares + value of new shares) / (# of shares) 
CAPM - ANS Cost of equity = cost risk free + beta * (cost of market - cost risk free)
What is a strictly dominant strategy? 
A strategy which always provides a greater payoff when compared to other strategies (cannot provide 
an equal payoff; that would be weakly dominant). 
What is a weakly dominant strategy? 
A strategy which provides a greater than or equal payoff to other strategies. (Think of it as greater than 
or equal to) 
What is a pure strategy nash equilibrium? 
A nash equilibrium which arises from playing a specified strategy (I will play this action specifically) 
wh...
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What is a strictly dominant strategy? 
A strategy which always provides a greater payoff when compared to other strategies (cannot provide 
an equal payoff; that would be weakly dominant). 
What is a weakly dominant strategy? 
A strategy which provides a greater than or equal payoff to other strategies. (Think of it as greater than 
or equal to) 
What is a pure strategy nash equilibrium? 
A nash equilibrium which arises from playing a specified strategy (I will play this action specifically) 
wh...