Top answers

With over 12.7 million mobile phone contracts being offered in the UK, is it possible for a consumer to make a rational decision when selecting a mobile phone tariff?

It is extremely unlikely that a consumer would be able to make a rational choice when selecting a mobile phone tariff due to the cognitive limitations of the human brain. As there are such a large number of ...
SC
Answered by Sam C. • Economics tutor
2943 Views

Explain the effect of placing an indirect tax on the consumption of fast foods in the UK

Indirect taxation are taxes on expenditure and consumption. These are usually placed on demerit goods which are goods or services which are perceived to have a negative impact on society. A real world exampl...
MR
Answered by Max R. • Economics tutor
7107 Views

What is the Short Run Aggregate Supply curve and why is it upwards sloping?

Aggregate Supply is the total amount of real output produced in an economy in a given year. The Short Run Aggregate Supply (SRAS) curve looks as aggregate supply in the short run : the time period where all ...
PD
Answered by Parth D. • Economics tutor
12606 Views

Which is preferable inflation of deflation? (25 marker)

The key to getting into the top band of the mark scheme for 25 markers is to show sustained evaluation throughout the response.A very useful formula for answering these sorts of questions is to start with so...
Answered by • Economics tutor
7752 Views

What is the law of demand?

The law of demand states that quantity purchased varies inversely with price. In other words, the higher the price, the lower the quantity demanded and vice versa. This occurs because of diminishing marginal...
HM
Answered by Hari M. • Economics tutor
3138 Views