You are welcome to ask any questions on Economics. Though you might also like to try google custom search (top right) to see if the topic has been covered before.
I am looking to explain economic principles / ideas/ recent developments in economics. I can’t promise to answer, but will try if it meets the criteria below.
- Please don’t ask me to do your coursework / assignment e.t.c. (I can usually tell if it is a homework question!)
- Please don’t ask any maths calculations.
- The question and answer will be published here where everyone can see it (including your teacher!)
- I aim to try and simplify economics; as a rough guide I would aim at an understanding similar to a good British A Level student.
- I am looking to explain economic principles / ideas/ recent developments in economics.
- I will answer as a new post, if you leave email address, I’ll usually send quick email. Check home page of blog for new post. With question and answers
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About The Author
Question
Why may it still make economic sense for the company to put on a coach for just one or two passengers, rather than turning them away?
Recently I again had to travel to London by coach and discovered that it was a good idea to book early in case the coach was full! Was the coach company being more senisble now?
Questions
1. What possible advantages to the consumer could there be in (a) National Grid Gas having a monopoly over gas pipelines; (b) BG remaining a monopoly in the supply of gas to domestic households?
2. What are the arguments for and against Ofgem regulating the price of gas supplied to domestic households?
how can we give air as an example of free good? as air cant be tuoched and seen , can we say free services? thank you in advance
We can ‘consume’ air. We do need it. But, if you breathe – it doesn’t reduce the amount available. https://www.economicshelp.org/blog/2844/economics/definition-of-a-free-good/
However, if you were in space and your air supply ran out. the remaining oxygen would no longer be a ‘free good’ because breathing in the oxygen would reduce the amount available to others.
I am wondering that if there is no direct action to solve cyclical or demand deficient unemployment and the actions can cause “spill over effect”, why are the governments of different countries not using these ideas and then solving the consequences of it? the ideas seem pretty legit and debate-able but i’m not saying there perfect because if the economy is perfect, there would be no economics and certainly no theory of J.M Keynes.
thank you !!
It is a good question. You might be better off asking the ECB and governments of Europe.
i would like to know what are the effects of the budget deficit on the economy and public
It depends on the size of the budget deficit and the circumstances surrounding it. https://www.economicshelp.org/macroeconomics/fiscal-policy/effects-budget-deficit/
Would you consider an accounting firm to be a perfect competition economic model or a monopolistic competion economic model?