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Economics
GCSE

What are the short term pricing differences in the different market structures?

The two main market structures are perfect competition and monopolistic competition.In perfect competition, there are a lot of different firms all selling the same product. As a result, no firm has the op...

Answered by Rae S. Economics tutor
1160 Views

Which factors affect supply and demand?

Factors affecting Supply:-Exchange Rates if it is an international business-Price of commodity-Government policies, e.g. taxation
Factors affecting Demand:-Consumer taste-Consumer income-Changes in p...

Answered by Aneeq K. Economics tutor
1305 Views

What is meant by the different sectors of economies?

Economies are made up of three sectors; the primary sector, which involves extraction of raw materials (e.g. timber), the secondary sector, which is concerned with manufacturing (e.g. turning timber into ...

Answered by Liora W. Economics tutor
3199 Views

Explain the term Economies of Scale. You may use a diagram to help.

Economies of scale is a term used to describe the point at which is a business' operations have grown to a scale that they can operate at a lower unit cost due to reasons such as buying in bulk. This mean...

Answered by Ryan L. Economics tutor
1155 Views

Explain why a government budget deficit is likely to stimulate economic growth.

When there is a government budget deficit it means that the government spending is greater than the government revenue, hence there is more money being channeled into the economy. This money can be used t...

Answered by Hattie C. Economics tutor
1812 Views

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