Top answers

Does a higher NMW increase the distribution of income?

This depends on a multitude of factors and is tricky to answer. One of the ways in which a higher NMW, which the latest government is implementing, would reduce inequality, is simply because it raises wages ...
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Answered by Thomas W. • Economics tutor
3154 Views

Define the term ‘derived demand’

The demand for a good or service reulting from or leads to the demand for another good or service.
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4572 Views

What is the best way to revise for Transport Economics?

Past material. This is by far the most effective way to earn the most marks in the exam. Utilising past papers, markschemes and examiner reports are essential in securing your A-Level success.
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Answered by Charles P. • Economics tutor
3056 Views

What factors can shift the supply curve and explain the impact of a change in one of these factors on the supply curve.

Different factors can shift the supply curve. It must be noted that changes in prices do not shift the supply curve, but causes a movement along the curve. In order to shift the curve, there must be changes ...
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Answered by Shona S. • Economics tutor
33621 Views

Describe how tariff could reduce imports.

A tariff is a tax imposed on imports or exports. Tax is an expense and hence increase the price of the goods and services. As price increases, demand decreases. Consequently, suppliers are discouraged from i...
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Answered by Aminath H. • Economics tutor
18234 Views