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Economics

A Level

Are there any minuses to economic growth?

Growth is typically considered great - improvement in GDP per capita, incomes and living standards. However, if asked in the exam, there is something for you to mention.

Firstly, consider...

Answered by Julia L. • Economics tutor

2740 Views

Evaluate the view that attempts by governments to eliminate market failure by intervening in markets for public goods and merits goods will inevitably lead to government failure.

This is a typical essay question taken from an AQA A2 Past Paper. In class, I encourage my students to draft essay plans to elaborate their arguments and develop their analytical thinking skills. Once ...

Answered by Daniel M. • Economics tutor

4638 Views

Explain the main sources of monopoly power.

- Barriers to entry, for example patents, restrict the number of competitors in a market. They may be deliberate, e.g. patents, or inherent in the good, e.g. water. Where they are inehrent, a 'natural...

Answered by Beth P. • Economics tutor

76116 Views

What are the likely impacts of a sustained budget deficit for an economy?

Interest rates on bonds increase, leading tp increased costs of borrowing. Leads to

a) fall in business investment, which reduces both AD and LRAS (i.e fall in economic growth)

Answered by Chuen Him K. • Economics tutor

3476 Views

What are the features of an imperfect or monopolistic market?

This is the market structure that is more commonly found in the real world. It borrows its characteristics heavily from both perfectly competitive markets and monopolies. It's characteristics are as follo...

Answered by Shyam S. • Economics tutor

9760 Views