Secret Hideout. (Sshhh...)

Mugging session with Jan, Cindy and Kee Hao today at Clarke Quay was unproductive yet productive.


The beautiful morning view from the inside.


Wake-up face is so horrible.

Januavi went to fetch Cindy from the mrt station and I was bored... Didn't want to start studying so early. Hehe.


Bling bling.


Emo not.


See.


Proud Mary keep on burning. (Love that song!)


Cindy and Kee Hao helping me solve a maths question. Hehe thanks much.


Taken in the evening. Omg, there is a flea market outside Central btw! =(


Cindy and her brown eyes. Inside joke.


Kee Hao wears an ah beng shirt.


Omg, I must have eaten too much of that noodle for dinner. Totally feel like puking now.

***
This morning while I was in the bus to Kovan, a bus officer board the bus and did his duty by checking whether everyone has paid for their ride. I paid by coins and didn't get the ticket so I kindly informed him that but why must all the bus officers be so moody? Don't like the job, quit la. He was like, "If you never collect the ticket must pay again. Go ask the bus driver for the ticket now." But at that point of time, I was already reaching Kovan so I sort of ignore him. He reiterated, "Go and get your ticket!" Everyone was looking at him now. (Guess he's a moody AS.)

What happened in the end?

I just alighted the bus and told myself to run as fast as I can. HAHA! Scardy cat.

***

Tonight's gonna be a mug night.

Today @ 6.40am:
"Why in the world would i forget to wear my glasses? Goodness..."

Today @ 5.03pm:
"Just made a deal to finish vectors 1&2, reaction kinetics, econs adas tutorials by tonight if not, no shower tmr after the cruel mass pe. Very motivated! "For bathing, I will!" Going to ps now to buy paints for band banner ALONE. Shall find somewhere to mug. Yes, I can do it."

Today @ 8.46pm:
"I'm freezing my bones out!"

I like even Thursdays. :)

After school, the class went to attend Kirti's Dad's wake. It was the first time for everyone of us to attend a different race's funeral. Then went to AMK Hub for lunch at Mos Burger. Went to PS alone after that to buy paints at Spotlight for the band banner and mugged at Burger King for 3hours. Home sweet home.

I feel so accomplished that 3 out of 4 assignments are done. Imma go do Chemistry later. :D

Omg ya, I also went for some mini shopping at PS and bought cute stationaries at Daiso before I mugged. Good source of motivation ya know! Haha.

Band band band band band. Why why why why why?

Some photos to make my blog less mundane and wordy:

P.S: Omg, my mum just told me to get contacts! :DDDD

Avoirdupois.

I'm trying to regurgitate here what I've memorised for Econs so far.
So perhaps you may want to skip this post.
Btw, I had GP and current affairs papers today.
GP = Hell.
Current affairs = Joke.

Let's start from the basics!

Factors of production:
(1) Capital
(2) Entrepreneurship
(3) Labour
(4) Land

Scarcity refers to the excess of human wants over what can be actually produced. As such, a choice must be made. This is because human wants are unlimited whereas resources are fixed. Thus, there is a need to allocate the fixed resources efficiently.

Likewise, choice involves scarcity. When a choice is made, opportunity cost is incurred.
Opportunity cost is the next best alternative forgone when a choice is made.

Production Possibility Curve shows all combinations of two goods being produced within a specific period of time with all its resources fully and efficiently utilised.

Shifts of the PPC:
(1) Improvement in technology
(2) Increase in resources
(3) Increase in productivity

Characteristics of a Free Market System:
(1) Limited or no government intervention
(2) Freedom of choice based on self-interest
(3) Private ownership of property
(4) Competition
(5) Use of price mechanism to allocate resources

Intermediate stage!

Theory of demand

Demand is defined as the amount of good a consumer is willing and able to buy at each possible price within a period of time, ceteris paribus.

Law of demand states that the quantity demanded and the price of the good is inversely related, ceteris paribus.

Law of Diminishing Marginal Utility states that as more and more units of commodity is consumed, the additional utility derived from each additional unit consumed falls.

Change of quantity demanded refers to the change in price of the good - movement along the curve.

Change in demand refers to change in non-price related factors of the good - shift in the curve.

Determinants of demand:
(1) Change in income level - Normal/Inferior Good
(2) Change in price of related goods - Substitutes/Complements
(3) Exchange rate - with reference to local currency
(4) Seasonal factors - GSS
(5) Change in size and composition of population
(6) Change in consumers' taste and preference - due to prevailing fashion, peers, trends etc
(7) Change in consumers' expectation - Taxes

Consumer surplus is the difference between the total amount of money consumers are willing to pay for a good and the total amount of money consumers actually paid.

Theory of supply

Suppy is defined as the amount of good producers are willing and able to produce at each possible price within a period of time, ceteris paribus.

Law of supply states that the quantity supplied of a good is directly related to its price, ceteris paribus.

Change in quantity supplied refers to the change in price of the good - movement along the curve.

Change in supply refers to the change in non-price related factors of the good - shift in curve.

Determinants of supply:
(1) Changes in weather conditions
(2) Changes in the cost of relevant resources
(3) Changes in state of technology
(4) Changes in price of related goods - Competitive/ Joint Supply

Producers surplus is the difference between the total amount of money producers actually received and the total amount of money they are prepared to receive.

Price Determination

A market refers to any situation where the buyers and producers can negotiate the exchange of a commodity/service.

Market equilibrium occurs at a price at which the quantity supplied by producers is equal to the quantity demanded by consumers.

Possible simultaneous change in DD and SS curves.
(Scenario 1)
DD increase = SS increase
DD increase > SS increase
DD increase < decrease =" SS"> SS decrease
DD decrease < increase =" SS"> SS decrease
DD increase < decrease =" SS"> SS increase
DD decrease < SS increase

Ok, it's getting boring here so I shall continue no more.


OMG! Let's party at Darren's house T17 tmr! *Glees*


Not forgetting full force mugging, as requested, with my lover on Saturday.


Till then.