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Average costs represent the total cost of a firm divided by the total number of units produced, and Marginal cost meanwhile represents the extra costs incurred by a firm of producing an additional unit of...

In intro show own knowledge and definitions of key terms. Build up case for argument. Then focus on consumers (how some gain, some lose, overall lose as producers make more profit), how producers gain &am...

Inflationary pressure: 

A side effect of economic growth is inflation, this is due to an increase in AD from AD1 to AD2 (diagram drawn) increasing price level from P1 to P2. Inflationary pressure i...

Start by outlining the type of environment in which energy companies operate in the UK. 1. The market structure is an oligoly. Each firm has a certain amount of market power it is able to exploit. Collusi...

(1) Point: Less global trade

Example: US had a trade deficit of $460bn in 2017 meaning more imports than exports, leads to protectionism (such as 35% tariff on Chinese tyres in 2010).

Analys...