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Discuss the view that nationalisation of the railway services in the UK would be beneficial for consumers.

[This is an exam style essay question, with the response being just one paragraph of multiple the student would have to write]One significant advantage to UK consumers of nationalising railway services could...
JC
Answered by James C. • Economics tutor
8713 Views

explain the function of fiscal policy

fiscal policy is the procedure by which the government attempts to increase or decrease the aggregate demand level of an economy by manipulating government spending and or tax rates, for example increase in ...
SS
Answered by Shivam S. • Economics tutor
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Choose an example of a negative externality and explain one policy which may help to solve it.

Smoking, specifically tobacco, is an example of a negative externality in that it harms negatively those outside of the original transaction. For example, a person walking down a high street inhaling second ...
SB
Answered by Sam B. • Economics tutor
2592 Views

A poor economy is at its steady state equilibrium. It is given a foreign aid package, to help it catch up with the developed world. Is this a good policy decision and why or why not?

As the production function remains the same, the economy has a temporary increase in output, but reverts back to its original steady state as the extra capital depreciates over time. This can be illustrated ...
SK
Answered by Silver K. • Economics tutor
1684 Views

What is price elasticity of demand?

Price elasticity of demand measures consumer's demand responsiveness to changes in price. Depending of the type of good, consumers either respond to a change in price by decreasing or increasing demand for t...
RO
Answered by Ruby O. • Economics tutor
3415 Views