Resale price Maintenance RPM used to be a common practise for manufacturers to set a minimum price for retailers to sell their goods. In the UK, the use of RPM was quite common in the post-war period from clothes to books, records, clothes and electronic goods. It ensured a minimum price of resale and avoided …
Readers Question: I am currently researching the impact of the global economy on inflation in the UK. I have come across economic policy uncertainty but am unsure what effect policy uncertainty in the EU and USA will have on the UK. UK inflation is primarily due to domestic factors. For example, if you look at …
Trade Sanctions are laws passed to restrict or abolish trade with certain countries. Trade Sanctions can take various forms such as: Complete embargo on specific types of trade. Tariff Barriers. Higher taxes on imports of goods. If the tariffs are sufficiently high, it may stop imports completely. Quotas limiting the amount of trade Trade Sanctions …
Readers Question: I have recently read an article stating that “a country has only four options for getting out of a financial crisis: devalue, inflate, default, or deflate”… Would you be so kind to explain what these options comprehend?? Firstly, when people refer to a financial crisis they could refer to different economic problems. Recession …
Macroeconomic notes Balance of payments Budget deficit Economic growth Fiscal policy Globalisation Exchange rates European Union The Euro Monetary policy Inequality Inflation International trade Supply side policies Unemployment Microeconomics notes AS Consumer and producer surplus Demand Economies of scale Elasticity Price elasticity of demand Cross elasticity of demand Income elasticity of demand Price elasticity of …
Containerisation is a system of standardised transport, that uses a common size of steel container to transport goods. These containers can easily be transferred between different modes of transport – container ships to lorries and trains. This makes the transport and trade of goods cheaper and more efficient. The container was invented in 1956 by …
Economic defeatism is a situation where policy makers accept an economic situation which is well below potential. Another form of defeatism is to see some problems as intractable and concentrate on dealing with side issues. Economic defeatism is contagious because it can set the tone for the whole economy, making it even more difficult to …
Readers Question: 1. Does state capitalism as practised in China pose a fundamental challenge to the Western model of liberal-democratic capitalism? No, I don’t think so. From a political perspective, no matter how economic successful China might be, there will never be any enthusiasm to replicate China’s one party political system. In fact, it is …