Unit 1: The demand for Tennents lager

Nice story from the BBC

http://www.bbc.co.uk/news/uk-scotland-scotland-business-13958687

a) Why has the demand risen?
b) Given the statement " revenue from sales of Tennent's grew faster than the volume of sales a result of price rises, would you expect the demand for Tennents to be elastic or inelastic? Explain your answer
c) Given your answers to a) and b), draw a S&D diagram to show the effect of the increase in demand on the market for Tennents

Unit 2: Evaluation in macroeconomics essays

A useful summary from economicshelp

http://www.economicshelp.org/macroeconomics/toolkit.html

Unit 1: New images on US cigarette packets

Thanks to tutor2u for this post; click on the link to the Washington Post to see the images that the US govt will force cigarette firms to put on packets

http://www.tutor2u.net/blog/index.php/economics/comments/as-micro-us-ramps-up-cigarette-warnings/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+economics_news+%28tutor2u+Economics+Blog%29#When:07:12:00Z

a) What sort of action is this by the US govt?
b) Why has it taken this action; ie what is the market failure in the cigarette market?
c) To what extent do yoy believe this action will reduce nthe market failure?

Unit 1: Drought hits the wheat crop

The BBC reports that the drought in parts of the UK will hit the wheat harvest

http://www.bbc.co.uk/news/uk-england-13793805

a) Using a S&D diagram, explain the likely effect on the price of wheat

Unit 2: Skills for the jobless

....and the latest data

http://www.bbc.co.uk/news/business-13779743

Unit 2: The uneven impact of inflation

....as reported by Ch4


http://www.channel4.com/news/poor-hit-hardest-by-4-5-per-cent-inflation-rate

Unit 2: Comparative inflation data

Thanks to timetric for this chart


http://byline.timetric.com/2011/06/14/the-uks-inflation-problem-rates-compared-internationally/

Unit 2: The unemployment problem

Thanks to economicshelp for this summary


http://econ.economicshelp.org/2011/06/unemployment-problem.html

Unit 2: Australian economy goes in to reverse

....according to the BBC

http://www.bbc.co.uk/news/business-13611595 video
http://www.bbc.co.uk/news/13611621 article

a) Give 2 reasons why Australia's growth has stalled
b) Why is it expected growth will resume in the next quater?