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Using a demand and supply diagram, comment on the likely impact on the market for new houses of relaxing planning regulations? (6)

The relaxing of planning regulations would mean that it would be easier to develop and build new houses due fewer constraints on developers. (1st mark application ) This would therefore mean that the supply ...
FM
Answered by Fergus M. • Economics tutor
5689 Views

What could cause a rise in the demand for University places?

Can be anything reasonable that indicates a shift in demand, e.g. greater perceived returns to education. Incorrect answers are supply-side based answers, e.g. Government makes the cost of University cheaper.
CL
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Using a diagram and an example, explain what a negative externality is and why it leads to market failure.

Market failure occurs when prices do not fully reflect social costs. Externalities are spillover effects of a transaction that affect a third party not involved in the transaction. The negative health effect...
MA
Answered by Max A. • Economics tutor
3661 Views

Evaluate the view that a reduction in UK unemployment is best achieved through the use of supply-side policies.

Intro: UK unemployment currently at 4.4%, a four-decade low, question remains how to lower it further with growth forecasts falling and business confidence faltering. Para 1: A traditional approach would be ...
AS
Answered by Antonio S. • Economics tutor
13812 Views

Explain using a diagram why when people have medical insurance the PED for medical treatment is likely to be very low whilst the YED is likely to be high

The price elasticity of demand, which measures the sensitivity of demand when price changes, for medical treatment is often low when people have medical insurance since the insurance company will cover most ...
TW
Answered by Timothy W. • Economics tutor
4834 Views