Unit 2: The effect of USA tariffs on China's pipe exports

The BBC reports the USA imposing tariffs on Chinese pipe imports

http://news.bbc.co.uk/1/hi/world/asia-pacific/8345881.stm

a) Using a diagram, explain the effect on the price of pipes from China in the USA after the tariff has been levied
b) To what extent will this effect sales of Chinese pipes in the uSA
c) What do you think might be the next stap in this trade dispute?

Unit 1: Car scrappage: Subsidies as a means of increasing production/consumption

The BBC reports sales of new cars much higher that the same month last year

http://news.bbc.co.uk/1/hi/business/8343948.stm

a) Using a diagram, explain the effect of the car scrappage scheme on the car market

Unit 1: Government action to reduce smoking

An intersting escalation in govt action to reduce smoking is proposed in Scotland

http://news.bbc.co.uk/1/hi/scotland/8340947.stm

a) How does smoking lead to market failure?
b) What therefore does any policy regarding smoking aim to achieve?
c) To what extent do you think making it a criminal offence for under 18's to buy cigarettes would reduce the market failure?

Unit 2: Structure and state of the Balance of payments

From economics teacher comes this good summary of the BoP structure

http://rapidrevision.co.uk/economics-student/2009/11/07/faq-what-is-balance-of-payments/

and the UK position

http://rapidrevision.co.uk/economics-student/2009/11/09/faq-what-is-the-current-balance-of-payments-position-for-the-uk/

Unit 1: Market failure in the car tyre market

An interesting clip from the BBC showing changing consumer behaviour in the recession

http://news.bbc.co.uk/1/hi/uk/8335214.stm

a) What form does government intervention take in the car tyre market?
b) Why does the government do this? In what way would a free market in tyres fail?
c) To what extent is the market failure increasing in the recession

Unit 1: Income elasticity of demand for coffee

A really interesting video clip from the BBC

http://news.bbc.co.uk/1/hi/business/8334993.stm

a) Explain what income elasticity of demand measures and state the formula
b) Given what is said in the video, would it be true to say that coffee bought on the high street is an inferior good?

Unit 2: GDP Data

From economics help, this useful graphic of UK economic growth

http://www.economicshelp.org/blog/economics/latest-gdp-statistics/

Unit 2: What is GDP and what is the GDP per capita of various countries?

A great summary of GDP from the BBC

http://news.bbc.co.uk/1/hi/business/88618.stm

and thanks to tutor2u for pointing out this GDP per capita resource

http://snippets.com/what-is-the-gdp-per-capita-for-every-country.htm

Unit 2: Inflation and Unemployment data October 2009

A good summary of the latest position from anforme

http://www.anforme.co.uk/blog/?p=818 inflation
http://www.anforme.co.uk/blog/?p=826 unemployment

Unit 1: Cigarette vending machine bans ....and more

The BBC reports plans to ban cigarette vending machines and make cigarettes under the counter items in shops

http://news.bbc.co.uk/1/hi/uk_politics/8303975.stm

a) Explain the economic justification for such actions
b) To what extent do you think such measures will be successful in reducing the market failure associated with smoking?

A good article explaining the improving UK trade deficit

http://www.volterra.co.uk/custompage/einsight-1009.php#Section1

a) What is meant by a trade deficit?
b) What is meant by an improving deficit?
c) Why does the srticle suggest the UK trade deficit has improved?