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What is a market equilibrium? Describe and explain an equilibrium graphically

A market equilibrium occurs when the buyers and sellers in the market are satisfied. We can also think about an equilibrium in terms of supply and demand. Let's think about a market for Fanta cans, with just...
EP
Answered by Eden P. • Economics tutor
2480 Views

Using the extract explain the effect of the corona virus on the UK economy in 2020 (10 marks)

10 mark questions require 2 KAA paragraphs with 2 1 mark ev points. This question would involve an extract I will teach my students to use a bullet point system to plan and to think of every answer as I will...
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Answered by Sol H. • Economics tutor
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Explain the Kinked Demand Curve

The Kinked Demand Model is used by economists to explain price stability in ologopolistic markets (markets with only a few large firms, such as the cinema industry). It shows how prices normally remain stabl...
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Answered by Joseph W. • Economics tutor
4338 Views

Explain the main reasons for government spending

Boost aggregate demand. This is used to compensate for dramatic drops in consumption or investment in an economic crisis as these are both large and volatile components of AD, e.g. government stimulus progra...
Answered by • Economics tutor
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Using your knowledge of both traditional economic theory and behavioural economics, assess policies that the Government might use to implement healthier diets across young people. (25)

Poor diets in the U.K. are likely to involve two types of market failure – the overconsumption of demerit goods (that consumers do not fully understand the costs of, such as sugar, fat and salt) and the unde...
ST
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