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Discuss whether or not increasing competition in the provision of air transport services is beneficial to passengers.

This is an 8 mark question, so lets split the answer into three parts so that the examiner can clearly see the various components of this 3+3+2 answer. In the first paragraph try and state at least four reas...
AR
Answered by Adithya R. • Economics tutor
2252 Views

Comment on whether higher government spending will always increase inflation (6)

Inflation is the general increase of the price level within an economy. Government spending is a component of AD, therefore an increase to this component would cause AD to increase. The upward shift of AD wi...
SF
Answered by Sam F. • Economics tutor
3339 Views

What causes aggregate demand to increase?

Aggregate demand is based on four components. These are: consumption, investment, government spending and net exports. The equation for this is AD = C + I + G + (X-M). Net exports is the amount of exports mi...
PP
Answered by Paige P. • Economics tutor
48473 Views

Highlight and explain 2 differences and one similarity between a monopoly market and a perfectly competitive market

Difference 1. In a perfectly competitive market marginal revenue is equal to average revenue at all quantity of production and the price for all firms is set at the same value. By contrast, in a monopoly mar...
AE
Answered by Alec E. • Economics tutor
5638 Views

Explain how a price ceiling imposed by governments in major rice-producing countries might affect world rice markets.

A price ceiling is when a maximum price is set on a good. For a price ceiling to be effective, it must be set below the free-market price. This causes excess demand (a shortage), which might cause people to ...
MR
Answered by Michael R. • Economics tutor
2784 Views