MYTUTOR SUBJECT ANSWERS

640 views

Why is supply side policy used a lot in modern economies?

Supply Side policy is basically anything that improves the long run growth of an economy. By that, we mean, anything that can help it grow in the long run sustainably, thereby avoiding 'bad' inflationary pressure usually experienced by a rapidly growing economy. Therefore, it is used alot by modern economy's, simply to improve on long run trend growth rate, so that these economy's are able to sustain a high level of growth. The 1970's was when Margaret Thatcher really introduced substantial supply side policies such as privatisation, a completely new tax system, that one can easily led to rapid growth in years to growth. Supply Side reform continued leading to upswing periods of growth, most notably, the 'NICE' period in 2003 (Non inflationary Continuous Growth). Education is a particuarly important SSP, and as you are probably aware, is being heavily reformed in the UK. Why? So that we have brighter students, that are more skilled and thus employable, therefore reducing the unemployment rate and having a skilled labour force that can support an ever growing population. 

Will O. GCSE Economics tutor, A Level Economics tutor, A Level Geogra...

2 years ago

Answered by Will, an A Level Economics tutor with MyTutor


Still stuck? Get one-to-one help from a personally interviewed subject specialist

64 SUBJECT SPECIALISTS

£20 /hr

Zaynah A.

Degree: Economics (Bachelors) - Birmingham University

Subjects offered:Economics, Psychology+ 1 more

Economics
Psychology
History

“Hi, I’m Zaynah and I’m a first year Economist at the University of Birmingham. Economics can seem daunting and complicated at first but I’ve found that once a student understands the core principles of the subject, everything else fall...”

£22 /hr

Anahita G.

Degree: Maths and Economics (Bachelors) - York University

Subjects offered:Economics, Science+ 3 more

Economics
Science
Maths
Chemistry
.TSA. Oxford.

“I am a maths and economics student at the University of York. I have always loved logical and analytical subjects, for example Maths and the Sciences. I also particularly enjoy economics as there are countless ways to analyse and conc...”

£36 /hr

Adam B.

Degree: Economics and Mathematics (Bachelors) - Bristol University

Subjects offered:Economics, Maths+ 1 more

Economics
Maths
Further Mathematics

“Hi!  I'm an enthuthiastic and motivated tutor with a commitment to developing my student's understanding of concepts within their chosen subjects.  As an Economics and Mathematics undergraduate I am committed to delivering a tailored...”

About the author

Will O.

Currently unavailable: for regular students

Degree: Economics (Bachelors) - Warwick University

Subjects offered:Economics, Maths+ 2 more

Economics
Maths
Geography
Business Studies

“Warwick Economics student, with prior teaching experience at GCSE and A Level, ready to make this year for you a success. ”

You may also like...

Other A Level Economics questions

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

Evaluate the view that attempts by governments to eliminate market failure by intervening in markets for public goods and merits goods will inevitably lead to government failure.

How do I answer an evaluation question?

What is inflation and how does it come from supply or demand side?

View A Level Economics tutors

We use cookies to improve your site experience. By continuing to use this website, we'll assume that you're OK with this. Dismiss

mtw:mercury1:status:ok