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How should I write the definitions of the different elasticities in an exam?

The first thing you should do is determine which elasticity you are being asked.

There are four different types of elasticities:

1. PED = Pri...

Answered by Naana O. • Economics tutor

3316 Views

What is the impact of a fall in the central bank interest rate on the macroeconomic performance of the UK economy?

Firstly, it expands the aggregate demand since invesment rises. Hence GDP rises. However, this depends on whether the fall is anticipated by markets already.

Secondly, it devalues the UK'...

Answered by Guangyao M. • Economics tutor

2674 Views

What is the impact of a rise in national minimum wage on the labour market?

Minimum wage is a crucial topic in A-level micro economics and I thought it ought to be one of the questions prepared.

Answered by Guangyao M. • Economics tutor

2497 Views

How do I work out the different elasticites of demand?

Elasticity is the proportionate responsiveness of a second variable to an initial change in the first variable.

There are four different types of elasticites:

Answered by Jessica E. • Economics tutor

3066 Views

What's the difference between a 10-marker and a 15-marker and how would I go about answering these?

These essay style questions create the bulk of your micro/macro studies, and it's important to know how to answer them effectively and efficiently.

With the 10 mark style questions, the e...

Answered by Balraj D. • Economics tutor

34797 Views

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