The oil price is determined by supply and demand side factors. Rising oil prices are indicative of rising demand and/or shortages of supply. The oil price is also affected by market speculation. Rising Demand Increasing demand will push up the price of oil. A short-term rise in demand could lead to a significant increase in …
Abstract. A look at the economic effects of Britain leaving the European Union. Summary. The UK has been a member of the European Union since 1973. The European Union gives many economic benefits to member countries. These include free trade, inward investment from European companies, free movement of labour, harmonisation of regulations and qualifications and …
Readers Question. What is economic welfare? can you please elaborate on how it affects an economy? Definition of economic welfare: The level of prosperity and quality of living standards in an economy. Economic welfare can be measured through a variety of factors such as GDP and other indicators which reflect the welfare of the population …
Some tips for writing economics essays Includes how to answer the question, including right diagrams and evaluation – primarily designed for A Level students. 1. Understand the question Make sure you understand the essential point of the question. If appropriate, you could try and rephrase the question into a simpler version. For example: Q. Examine the …
Readers Question: Is rise in prices a reflection of economic growth? A sustained rise in prices is known as inflation. A large rise in prices / higher inflation rate is often caused by economic growth. However, there are also occasions, when we can get inflation despite weak or negative economic growth. Inflation caused by economic …
The current US administration have suggested they want to increase the US budget deficit to enable higher rates of economic growth. What does economic theory state about this idea? “We need to have new deficits because of that. We need to have the growth,” Mulvaney said. “If we simply look at this as being deficit-neutral, …
Readers Question: I would like your help in answering a query of mine………Is foreign exchange rate an indicator of economic growth? No. The foreign exchange rate is determined independently to the economic growth rate. The exchange rate can have an influence on economic growth. And the economic growth rate can influence the exchange rate. But, …
A look at factors that explain wage inequality – including classical economic theory and labour market imperfections. Readers Question: Idealized free market theory argues that it is automatic for each worker to receive just what he or she is worth; otherwise, an “underpaid” worker could just look elsewhere to bid a higher salary. Could established …