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Hey everyone, just updated the Bloom HSC Economics Statistics Sheet. You can find it here: bloom.study/stats. Let me know if you have any feedback or you think it's missing some key stats!

Find the latest update to the Bloom stats sheet at bloom.study/stats Let me know if you have any suggestions, or questions about how to use statistics in your essays. Remember - don't just blindly use statistics, use them to support a point you're making. Good luck with the HSC!

Here are some stats I compiled (will be updated soon): bloom.study/stats

The real crux of what they are trying to get you to think about is the demand and supply diagram. Reduced competition is the same as decreased supply. This means a higher equilibrium price and a lower equilibrium quantity.

Assuming a base year of 100, then food inflation rate is 20%, housing inflation rate is 10% and the health inflation rate is 50%. However, since they are differently weighted, the contribution of food is 15% × 20% = 3%, contribution of housing is 20% × 10% = 2% and contribution of health is 5% ×...

Is your calculator set to radians?

One way to quickly see this to to substitute a point into the equation. The easiest would be the one on the left with argument pi. In other words, this is just some negative number. If you take some negative number to the power of 5, you get a negative number. This means that a must be a...

A meta point about economics: there is almost always a way to argue both ways in theory, especially if you use enough "links". It's more true for variables like exchange rates, which are subject to multiple factors. It's really hard to pinpoint exact cause-and-effect relationships in economics...

Up-to-date examples and statistics for HSC Economics (Topic 1-4). Compiled by me (state ranked 7th in NSW for economics), with the help of Bloom, an AI-powered economics tutor. Have fun, Gary

Personally I didn't do any tutoring for Mathematics Extension 2. I mainly did all of the "extension" questions in Cambridge 3U textbook, and lots of past paper questions.

Hey everyone! I'm excited to introduce the first version of "Bloom", an AI-powered economics tutor I've developed. I've trained Bloom using my notes, as well as the HSC Economics Workbook, to ensure that its explanations are accurate, easy to understand, and tailored specifically to the HSC...

I think there are two parts to evaluating the effect of a policy. You want to be able to explain the theory behind the policy. For example, if the cash rate increases, then you can explain the transmission mechanism: for example, cash rate increases -> banks increase their interest rates ->...

This is a pretty neat idea! If we were being pedantic though, it hasn't been technically proven that A(x) and B(x) have a common factor. You've just shown that if there IS a common factor, it must be x^2 - 1. Just because a term is a factor of the sum of two polynomials doesn't mean it is a...

In this case, the order of the letters matters. In the first question, it just says it makes a parallelogram without specifying the order of the vertices. In the second question, they specify "ABCD", so it must mean that the vertices follow that order.

I'm not sure this works because you've assumed that c lies on a straight line between a and b, so you would need to prove this!

I really like Cambridge Y11, Chapter 1 for this

You can break it down into two steps. Finding a vector in the direction of c and then finding the length of c. Direction of c: First you're right in that we aren't guaranteed that we have a rhombus. So you make one! If you take the vector a/a, this is unit vector in the direction of a and...

You should have a major arc of a circle with the ends at 1 and -1. To find the centre, you want to make use of the theorem "the angle at the centre is twice the angle at the circumference". So that means the angle subtended at the centre is pi/2. Use that and a bit of trigonometry to find that...

Hey everyone, I'm building a personal AI tutor called Bloom. I'm starting with economics for Year 11 and 12, so I'm looking for students who want to try the demo (for free) and give feedback. The idea is that it explains concepts you don't understand. If you're interested, sign up here at...

First one: carrotsss's answer is good. You can also do it using thinking about it with your standard probability rules i.e. Pr(same house) = Pr(all in house 1) + Pr(all in house 2) + Pr(all in house 3) + Pr(all in house 4) + Pr(all in house 5) = 5 * Pr(all in a particular house) = 5 * 1/5 * 1/5...