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Explain one reason why governments impose indirect taxes.

Indirect taxes are imposed on expenditure. They raise a firm's cost of production, which causes an upward shift in the supply curve of the firm. Indirect taxes can be specific or ad valorem: specific t...

Answered by Lydia H. • Economics tutor

50637 Views

What is price elasticity of demand, and how can it affect the decisions of retailers?

Price Elasticity of Demand refers to the extent to which demand for a product will change in response to a change in its price.

If PED is 'elastic' this means that any given change in pri...

Answered by Adrian G. • Economics tutor

9677 Views

What are the causes and effects of globalisation?

Isolate/Define key terms

- globalisation

- causes

- effects - split into benefits and costs

1. Causes of Globalisation

Answered by Tom G. • Economics tutor

14756 Views

What is the best market structure?

In Economics, we tend to think of "best" as synonymous with "most efficient." There are many different types of efficiency, but the most important of them are allocative and product...

Answered by Daniel E. • Economics tutor

29061 Views

Why does a govt focus on economic growth as a primary objective and should it always pursue this objective. Give reasons for your answer.

1) Economic growth

Positive economic growth means the increase of production of goods and services in a country. More goods and services mean a better standard of living for the general p...

Answered by Bahram K. • Economics tutor

20079 Views