A list of some modern-day protectionist measures, including tariffs, domestic subsidies to exporters, and non-tariff barriers which restrict imports. Types of Protectionism Tariffs – This is a tax on imports. Quotas – This is a physical limit on the quantity of imports Embargoes – This is a total ban on a good, this may be …
It’s not a good time to be a member of the Monetary Policy Committee. Inflation far exceeding forecasts and the Bank was forced into something of a u-turn belatedly increasing interest rates in a shock-and-awe tactic designed to regain credibility. Some critics argue the recent interest rate rises are like using a sledgehammer to crack …
Sterling's Recovery in 2023Watch this video on YouTube After being one of the worst performing currencies of 2022, the Pound has staged an impressive recovery against the US Dollar, rising 15% from the depths of last September’s crisis. After years of decline, markets are now more optimistic the Pound will continue to strengthen. But why …
As elections loom, the Turkish economy is facing a self-inflicted economic crisis of high inflation, and a cost of living crisis that dwarfs what we see elsewhere in Europe. Turkey's Self-Inflicted Economic CrisisWatch this video on YouTube In recent years, Turkey has seen inflation rate surge to over 80% – leaving over 53% of people …
Definition – Demand is price inelastic when a change in price causes a smaller percentage change in demand. It occurs where there is a price elasticity of demand (PED) of less than one. Goods which are price inelastic tend to have few substitutes and are considered necessities by users. Diagram of price inelastic demand For …
Brexit Costs include Food inflation/Food shortages Devaluation of Pound Slower economic growth Fall in tax revenue/less spending Custom Duties and Tax Decline in Trade Fall in Business Investment Labour Shortages Illegal crossing/Small crossings Frictions to travel 10 Problems of Brexit: Why The Economic COSTS Keep GrowingWatch this video on YouTube In recent weeks, …
Many young people will understandably be hoping and praying that there is a substantial fall in UK house prices to make them affordable and escape the broken rental sector. However, if there is a serious house price fall, there is a real danger this would push the UK economy deeper into recession. In the last …
An increasing proportion of Britain’s regret Brexit. The gap has surged to the highest level since 2016. And it is a gap that is set to grow as pro-European young voters replace older Brexit voters leaving the electorate. The current deal is contributing to the UK’s dire economic performance. The IMF predict in 2023 the …