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Explain, with the help of diagrams, the effect of an increase in the price of petrol is likely to have on (i) The market for cars. (ii) The market for coal.

The petrol market over the past decades has had many price fluctuations and it is important to understand that changes in the price of petrol can have significant effect in other markets such as the market f...
AS
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What are the macroeconomic objectives?

Low unemployment (accounting for the natural rate of unemployment) Sustainable economic growth Balance of payments Stable inflation (usually at approximately 2%)
LH
Answered by Labeeb H. • Economics tutor
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What are economic stabliziers?

Before trying to figure out what automotic stabilizers are, it is necessary to first understand the business cycle. Business cycle recap: An economy experiences fluctuations. They go through periods of expan...
YE
Answered by Yasmina E. • Economics tutor
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Evaluate the possible impact on economic performance that may result from a government decision to bring cost-push inflation under control. (15 marks)

When inflation is due to being cost-push, the government uses supply-side policies, which manipulate and influence the supply curve in the long term, to increase the level of aggregate supply, as mentioned i...
OD
Answered by Olivia D. • Economics tutor
6079 Views

What is the difference between demand and aggregate demand?

It’s very important to understand the meaning of those two concepts and the difference between them. We could consider demand for apples in for example a small village or a shop, but when we talk about aggre...
KK
Answered by Kaja K. • Economics tutor
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