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Economics
A Level

Could you explain the distribution of the incidence of a tax and why it may fall differently on consumers and producers?

Firstly it would be useful to define terms and state that the majority of the time the tax in question will be a tax on a good or service for example the tax on cigarettes (tobacco). The reason that this ...

Answered by Isaac V. Economics tutor
1833 Views

Explain the differences between short run and long run growth

Short run growth is an increase in AD, meaning any one of the compenants in aggregate demand increases. This can occur if people have a change to their disposable income, for example if taxation is reduce...

Answered by Freya L. Economics tutor
14475 Views

What are public goods and how do they lead to the 'free-rider' problem?

A pure public good is a good that is consumed collectively; it is both non-excludable and non-rivalrous. These two main characteristics mean that people can't be stopped from consuming the good, and that ...

Answered by Mathew C. Economics tutor
2120 Views

Evaluate the impact of the increase in the number of public sector employees on the UK economy (12)

An increase in the number of public sector employees is likely to have two main benefits.

DIAGRAM SHOWING AGGREGATE SUPPLY AND AGGREGATE DEMAND INCREASING, SIMULTANEOUSLY SHOWING AVERAGE PRICES...

Answered by Matthew M. Economics tutor
2530 Views

What is Price Elasticity of Demand?

Firstly let's define Price Elasticity of Demand (PED): PED is the responsiveness of demand to a change in price.

In the real world, Uber is a great example, on a Saturday night demand for Uber ofte...

Answered by Kyren R. Economics tutor
3634 Views

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