ok let me share with you how intelligent one of my students is...I received some essays which are alot better than what I can produce. Quite embarassing but at the same time, it feels really awesome to mark essays that are of high quality. ok here's what he said
The demand for public transport in Singapore is also affected by the foreign exchange rate. The Singapore dollar has been performing strongly and had strengthened against the US$. The exchange rate in January this year was US$1:S$1.51. As a result of a stronger Singapore dollar, American imported cars like Chevrolet and Ford are cheaper in terms of Singapore dollars. Thus, the quantity demanded of these cars increases. Motor cars are substitutes to travelling by bus as both satisfy the purpose of transport. Assuming an individual who owns cars does not need to travel by bus anymore, the increase in the quantity demanded of buses will lead to a fall in demand for bus rides. As a result, at every price level, the quantity demanded of bus rides decreases.....
Awesome right? They haven't even learnt forex. They were just curious about it so i told the class about how the forex market learn (demand and supply analysis). And he applied it in his first essay assignment:)
Anonymous @ 26/02/2007
17:00
