Top answers

Economics
IB

Describe the effects of the introduction of an indirect tax on different stakeholders within an economy.

The introduction of an indirect tax increases the firm's costs of production. Therefore, as there is a change in the determinants of supply, the market supply curve shifts to the left. This results in a n...

Answered by Harry T. Economics tutor
31719 Views

What is the difference between a monopoly and monopolistic competition?

A monopoly is a relatively simple market structure. One firm is the single producer for the market, or serves the majority of customers. For this to occur there must be some kind of barrier which stops ot...

Answered by Alexander R. Economics tutor
17128 Views

Discuss the view that overuse of common access resources is best addressed by the government

Common access resources are resources which are not owned by anyone, do not have a price and are available for anyone to use without payment. They are rivalrous but non-excludable. Since they are free and...

Answered by Edon A. Economics tutor
26918 Views

What are automatic stabilisers?

They are changes in taxation and spending that happen automatically as the economy moves through different phases of the busines cycle. For example the tax revenues increase as the economy expands and tra...

Answered by Naomi H. Economics tutor
1502 Views

How do automatic stabilizers work?

Automatic stabilizers are a form of autonomous adjustment that the economy does in booms and recessions. To understand automatic stabilizers we need to first know how fiscal policy works and know what a b...

Answered by Giorgio O. Economics tutor
9640 Views

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