Top answers

Microeconomics: Discuss the Benefits of a Minimum Wage?

Define minimum WageKnow the Stakeholdersdraw the basic graphthen draw out the change - step by stepAnalyse the Graph and what has happened and how the stake holders have been affectedevaluate/ conclude the a...
Answered by • Economics tutor
2110 Views

Explain why a rise in investment should help to increase the rate of growth of the Uk economy. (9 marks)

An injection is defined as money that originates outside the circular flow of income and so will increase national income. The three types of injections are exports, government spending and investments. A mu...
AT
Answered by Anna T. • Economics tutor
7290 Views

Explain why the use of petrol and diesel cars may be a source of market failure. [15]

• define market failure i.e. when free market forces of supply and demand fail to produce the quantities of goods and services at prices which reflect marginal utilities OR fails to operate at market equilib...
Answered by • Economics tutor
3291 Views

How should I structure the long answers in the exam?

In order to achieve full marks in essay questions it is very important to structure your answers in an organised manner. I would recommend one introductory paragraph, one or more development paragraphs and o...
TD
3840 Views

Evaluate the usefulness a knowledge of perfect competition theory in analysing the behaviour of firms. [15]

Perfect competition is the most competitive market structure with many firms holding a small market share and no barriers to entry. There are no pure real-world examples of this market structure but some com...
Answered by • Economics tutor
6286 Views