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Describe the impact of the tightening of the monetary policy by the central bank on consumer spending.

Monetary policy refers to the Central Bank's action on money supply, and therefore its effect on interest rates. A tightening, therefore, refers to raised, or high interest rates, such as if the UK raised...

Answered by Sophie B. • Economics tutor

1968 Views

What are the characteristics of a perfectly competitive market?

In practice it is unlikely that the conditions of a perfectly comeptitive market will exist, however these conditions are set as:

Many buyers and sellers in the market
...

Answered by Esmee M. • Economics tutor

2275 Views

Using a demand and supply diagram, comment on the likely impact on the market for new houses of relaxing planning regulations? (6)

The relaxing of planning regulations would mean that it would be easier to develop and build new houses due fewer constraints on developers. (1st mark application)

Answered by Fergus M. • Economics tutor

4614 Views

What could cause a rise in the demand for University places?

Can be anything reasonable that indicates a shift in demand, e.g. greater perceived returns to education. Incorrect answers are supply-side based answers, e.g. Government makes the cost of University chea...

Answered by Christopher L. • Economics tutor

1609 Views

Give one example of perfect and imperfect substitutes.

Perfect substitute could be anything like: Pepsi and Coca-Cola, PG Tips and Typhoo etc. Imperfect substitute can be things like: Tea and Coffee, Beer and Wine.

Answered by Christopher L. • Economics tutor

15305 Views