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Economics
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Describe how tariff could reduce imports.

A tariff is a tax imposed on imports or exports. Tax is an expense and hence increase the price of the goods and services. As price increases, demand decreases. Consequently, suppliers are discouraged ...

Answered by Aminath H. Economics tutor
16720 Views

Why is inflation desirable?

Inflation is desirable when it is low and stable.

The easiest way to explain why is by outlining the consequences should inflation be either too high or too low;

...
Answered by Florence R. Economics tutor
11294 Views

How can I show the impact of a NMW on employment using a supply and demand graph?

You'd need to draw your pair of axes, labelling the vertical one "wages" and the horizontal one "quantity of workers". Your labour demand and supply curves should look like normal d...

Answered by Martin G. Economics tutor
2533 Views

Explain the difference between direct and indirect costs.

Businesses have many different costs to pay when running. We can categorise these costs into different categories, such as direct and indirect costs....

Answered by Barnaby C. Economics tutor
4396 Views

Integrate the function f(x) = (1/6)*x^3 + 1/(3*x^2) with respect to x, between x = 1 and x = 3^(1/2), giving your answer in the form a + b*3^(1/2) where a and b are constants to be determined.

We can imagine our function as a curve. We have x values on the x axis and f(x) values on the y axis of our graph. 

The question is essentially asking us to find the area between the curv...

Answered by Daniel V. Economics tutor
3478 Views

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