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How can I learn to memorise all the different market structures?

Creating flash cards with the properties of the different market structures, including real life examples of each market is a great way to help you to memorise and visualise the different market structures.
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Answered by Baraka M. • Economics tutor
1997 Views

To what extent is an increase in taxes an effective way to correct a negative externality of consumption in the case of tobacco.

Negative externality of consumption is a type of market failure in which Marginal Private Benefit (MPB- the demand of consumers at present situation) is higher than Marginal Social Benefit (MSB- the demand o...
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2688 Views

A government decides to Impose an indirect tax on fast food. Discuss the effects for the stakeholders in these markets.

First, we must begin by defining an indirect tax. An indirect tax is a tax that is levied on a particular good, making it a tax that taxes consumers based on their consumption choices. Issuing an indirect ta...
MC
13637 Views

Explain how the central bank can change interest rates to manipulate Aggregate Demand.

The key concept here is that interest rates essentially represent the price of money. The central bank sets the interest rate to loan to high-street banks, and the high-street banks follow this guidance to s...
ML
Answered by Matt L. • Economics tutor
2367 Views

Define price elasticity of demand and explain the factors affecting it

Price elasticity of demand (PED) is a measure of the % change in demand of a good which occurs in response to a change in price.There are four main factors which effect PED:availability of substitutes - if a...
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Answered by Sofia A. • Economics tutor
4245 Views