Wednesday, February 27, 2013

Unit 1: Correcting market failure: The polluter pays principle

Nice post from economicshelp

Saturday, February 23, 2013

Unit 1: The rising price of petrol and diesel

Nice article from the BBC

a) Explain the 3 reasons given for the rise in prices
b) Draw a S&D diagram to show these effects
c) Describe the pattern of petrol and diesel price changes shown in the diagram

Unit 2: Welfare to work: A failing supply side policy?

It's early days, but the initial gigns aren't encouraging if you pick out the numbers from this interview with Margaret Hodge

Unit 2: Who does India trade with?

Lots of data regarding India's imports and exports

Unit 2: Investment: Dyson's new production line in Singapore

High tech to produce a quality product

Friday, February 15, 2013

Unit 1: Falling world demand for diamonds

...reports Sky

a) Using demand theory, explain the fall in demand for diamonds
b) Using demand theory, explain why De Beers believes demand will rise in the future

Unit 1: Is there market failure in the teeth whitening business?

Possibly, if this clip is correct

a) What market failure, if any, do you believe exists in the teeth whitening market?

Tuesday, February 12, 2013

Unit 1: What is the equilibrium price for a US College basketball ticket?

We'll soon find out at Northwestwern University, according to Planet Money

Unit 2: CPI unchanged, but RPI increases

...according to the ONS

Unit 2: The potential problem of a strong Euro outlined in this BBC clip

A) What costs and benefits could there be for the UK from a strong Euro

Unit 1: Is the e-cigarette market suffering from market failure?

This BBC clip raises the issue video article

a) What sort of market failure might be present in the e-cigarrette market
b) What government action, if any, could be aken to reduce this potential market failure?
c) To what extent would such policies be successful?

Unit 2: The circular flow of income

Thanks to tutor2u for finding this from the ONS

The interactive version, with data links to each section, is at

Unit 1: Public goods: Revision

Thanks to tutor2u for this updated revision slideshow

Saturday, February 09, 2013

Unit 1: How regulation can reduce market failure: Paracetamol

Great clip from the BBC video
and article

a) In what respect would the free market for paracetamol appear to fail?
b) To what extent does this legislation appear to have reduced the market failure?
c) Suggest one other action the government could take to further reduce the market failure

Unit 2: Where does UK government spending go?

Great post from economicshelp with all the data you need

Tuesday, February 05, 2013

Unit 1: Rising onion prices in India

....could be critical, report the BBC

a) Using a S&D diagram, explain why onion prices have risen

Unit 2: The rising demand for meat in India

The BBC reports that the traditionally vegetarian diet is changing

a) Explain the rising demand for meat usingdemand theory

Sunday, February 03, 2013

Unit 2: The effect of Polish migration on the UK economy

...appears to have been significant, according to this BBC clip

a) Using an AD and AS diagram, comment on the effect of Polish migration on the UK economy

Unit 2: Free trade returns to US Beef exported to Japan and Taiwan

Both countries are lfting restrictions on imprts of US produced beef Japan Taiwan