MYTUTOR SUBJECT ANSWERS

489 views

What is cost push inflation?

Cost push inflation is the result of an increase in the price of the factors of production e.g. labour, raw materials. For example, an increase in the price of oil will increase the price of most raw materials. Firms will have to increase their prices to sustain the same level of profits. This increase in price across the economy is cost push inflation.

Nick O. GCSE Business Studies tutor, A Level Economics tutor

2 years ago

Answered by Nick, an A Level Economics tutor with MyTutor


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

65 SUBJECT SPECIALISTS

£22 /hr

Safiya S.

Degree: Economics (Bachelors) - Warwick University

Subjects offered: Economics, -Personal Statements-

Economics
-Personal Statements-

“Hello! I am a first year undergraduate student studying Economics at the University of Warwick. I got A*A*A*A in Economics, History, Physics and Maths at A level as well as 11A*s at GCSE level. I discovered my love for economics when ...”

£24 /hr

Nicolo G.

Degree: BSc Government and Economics (Bachelors) - LSE University

Subjects offered: Economics, Maths+ 2 more

Economics
Maths
History
Biology

“I am currently a student of economics and government at the London School of Economics. I developed a passion for economics during my IB diploma studies and I hope I will be able to instill that passion in you as well. I am very patien...”

£20 /hr

Reubin B.

Degree: Business Economics (Bachelors) - Exeter University

Subjects offered: Economics, Maths+ 1 more

Economics
Maths
Graphic Design

“ABOUT ME I am currently a student at the University of Exeter studying Business Economics. I have a keen interest in all aspects of economics with the passion to guide you through your course, and the hope to inspire the same enthusia...”

MyTutor guarantee

About the author

Nick O.

Currently unavailable: for regular students

Degree: Business Economics (Bachelors) - Exeter University

Subjects offered: Economics, Business Studies

Economics
Business Studies

“Patient, friendly and experienced tutor. Final year student at the University of Exeter studying Business Economics. Straight A's at GCSE and A level. President of the University's Entrepreneurs Society. ”

You may also like...

Other A Level Economics questions

Explain what you understand by the Lorenz Curve and Gini Coefficient.

Explain the difference between short term growth and long term growth

What is diminishing marginal utility?

What is the most common measure of inequality and what is inequality itself?

View A Level Economics tutors

Cookies:

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

mtw:mercury1:status:ok