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Economics

A Level

How many diagrams is it best to use in an extended essay?

It's a common misconception that more diagrams are always better. In fact, a diagram that is ill-defined or poorly linked to the question will not add anything to your answer and it can demonstrate a l...

Answered by David C. • Economics tutor

7030 Views

How would a change in income affect the quantity demanded of an inferior good?

Goods can be classfied as either normal or inferior when we examine how a change in income of a consumer affects how much of agiven good they choose to consume.

In most circumstances one ...

Answered by Bertie M. • Economics tutor

11293 Views

What are the effects on UK businesses after an increase in fuel prices?

Due to the UK economy being heavily dependent on fuel, it is inevitable that an increase in fuel prices will affect almost every UK business. However these affects can vary from sector to sector.

Answered by Tejan S. • Economics tutor

11438 Views

What is the Laffer curve?

The Laffer curve shows the theoretical relationship between tax rates and tax revenues.

Imagine a government charges a 0% income tax; they definitely won’t receive any money from that tax...

Answered by Matthew D. • Economics tutor

3087 Views

What happens to the Production Possibility Frontier (PPF) when productivity only increases in one good?

We start here with an initial PPF which shows the possible combinations of apples and computers that an economy can produce with the resources it has. If a new way of creating computer chips makes the ...

Answered by Matthew D. • Economics tutor

5033 Views