Wednesday, November 28, 2012

Unit 1: Minimum pricing and the end of multi-deals on alcohol

That's the plan, according to the Aljazeera and the BBC Aljazeera video video article

Arguments in favour (video)and video

a) To what extent do you think these measures would reduce the market failure asociated with this demerit good?

Unit 2: Why hasn't unemployment risen higher in the recession?

Underemployment may be part of the answer Sky news article tutor2u post

This idea of fewer people being made redundant, but more people working fewer hours than they would like to would be a good point to develop for evaluating the current state of employment/unemployment in the economy

Tuesday, November 27, 2012

Friday, November 16, 2012

Unit 1: Why are property prices so high in Hong Kong?

This clip from the BBC explains all

A) Using a S&D diagram, explain why HK property prices are rising (Hint: Be careful how you draw the supply curve)

Unit 1: Producive efficiency via larger lorries

A clip from the BBC that highlights the importance of not looking at economics in isolation

a) How would the introduction of these lorries in the UK increase productive efficiency?
b) Given this economic advantage, what wider reasons must there be for not allowing them on our roads?

Unit 1: Information failure: How much should you drink if you're pregnant?

It's unclear, according to this BBC clip

a) How is there an example of information failure in this case?

Thursday, November 15, 2012

Unit 1: Increased demand for smartphones

....reports Sky news

a) Using demand theory, explain the rapid increase in the demand for smartphones worldwide

Unit 1: The price of potatoes......and chips

.....are on the rise, according to the BBC

a) Using a S&D diagram, explain why the price of potatoes is rising
b) Using a S&D diagram, explain why the price of chips will also be increasing

Unit 1 Productive efficiency: Big lorries!

Nice clip from the BBC

a) IN what way does this relate to the concept of productive efficiency?

Tuesday, November 13, 2012

Unit 1: The Nutella tax

Thanks to tutor2u for this

a) Using a diagram, explain the market failure associated with the consumption of Nutella
b) Using a diagram, comment on how succesful the propsed tax will be in reducing the market failure

Unit 1: Market failure Scoop it resource

Unit 2: AD and AS Pinterest resource

Unit 1: Denmark abandons the fat tax

...according to the BBC

This was the original policy

a) Why has Denmark abandoned this attempt to reduce the market failure caused by saturated tax?
b) Comment on the notion that this is the end of their campaign to reduce obesity

Sunday, November 04, 2012

Friday, November 02, 2012

Unit 1: Negative externalities from building the 3 gorges dam

Many, according to the BBC

a) What are the negative externalities identified?
b) So why did the dam go ahead (Hint: Use ECONOMICS in your answer!)

Thursday, November 01, 2012

Unit 2: Using mobile phones whilst driving: An example of a demerit good

I love the Australian approach, no mucking about according to this Aljazeera clip

a) What is the market failure arising from using mobile phones in cars?
b) To what extent do you think this new law will eliminate the market failure?

Unit 1: Poor wine harvests likely to push up the price of a bottle of wine

........according to this BBC article

a) Using a S&D diagram, explain why the price of wine for UK consumers is likely to rise
b) Do you think all wines will rise by the same amount? Explain your reasonong

Unit 1: Carbon monoxide monitors: An example of merit goods?

In Northern Ireland new rules insist carbon monoxide monitors are fitted

a) Why are there monitors underconsumed in the free market?
b) What positive externalities do they produce?
c) To what extent do you think the new regulations will reduce the market failure(ie the cases of carbon monoxide poisoning)

Unit 2: Inequalitiy of income resulting from China's economic growth

3 clips from the BBC illustrating the problem

Unit 2 EU unemployment data

Great bar chart in this Guardian article showing EU unemployment rates

and BBC video

and BBC article

a) Discuss the extent to which unemployment is a problem in the EU (Make sure you use the data and make evaluative comments)