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Economics
A Level

To what extent is the national minimum wage beneficial to society?

Always begin answering questions by providing a definition. This is key in economics. Therefore, start by explaining that the national min. wage is the governments guarentee of a minimum wage per hour ...

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Answered by Connor S. Economics tutor
8759 Views

The government has introduced an ad valorem tax on petrol. The likely effect is: A) Increase in sales of petrol B) Increase in carbon emissions from electric cars C) Increase in demand for bus travel D) Decrease in sale of electric cars

Four mark questions are a great way to pick up marks. There is a simple strategy to remember when answering these. 

Firstly, always write down your definition of the key word(s). Even if ...

Answered by Binal P. Economics tutor
3202 Views

Is price capping an effective way to deal with monopolistic power?

Price capping involves limiting the amount that a firm can charge for a particular good or service. In order to address this question, you should weigh up the costs and benefits of price capping and their...

Answered by James C. Economics tutor
26355 Views

What is the basic economic problem?

In economics the main problem we deal with is the fact that there is a finite number of resources on the planet. In other words we don't have an unlimited amount of things. e.g. we will eventually run ...

Answered by Thomas K. Economics tutor
7515 Views

What is price discrimination?

Price discrimination is where firms charge a different price to different consumers for the same good for reasons other than cost. There are three degrees. First degree PD is where the seller knows the...

Answered by Sam R. Economics tutor
4466 Views

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