How do you write good analysis chains of reasoning? | MyTutor
Good structure is essential for good economics essay marks.Following the BLT route is a good way to show clear understanding. BLT = Because Leads to, therefore and can show how you have gone from knowledge to understanding.For example, if the question was what happens to price if supply rises. The answer - if supply goes up price goes down.
Construct a break-even graph and evaluate its usefulness as a …
Break-Even is a tool used by businesses to project the amount of units they have to sell before they break-even, in other words before they have recouped their investment. To calculate this number, 3 figures must be known. Firstly, the price at which the business is …
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What can the government do to reduce pollution (negative
This generates a price and quantity in the economy whilst bringing about negative externalities (namely pollution in this case). As a result, government intervention is used to reduce the negative externality and this could include taxes (for example, the London congestion charge).
How should I answer data response questions?<!-- --> | MyTutor
where K=knowledge marks, Ap=application marks, An=analysis marks, E=evaluation marks. Knowledge marks are given for definitions, or an identification of an economics theory. For example, a mark would be given for stating that a supply side policy to achieve economic growth is increased government spending on education and training.
What is the difference between an elastic good and an in
So it makes sense for the shop keeper to keep the price low to increase the demand. If mars bars were an In-elastic good then the demand for them would hardly react at all to a change in price of the mars bar. So if I increased the price of the mars bars the amount of …
With the help of a diagram, explain how collusion between energy ...
Collusion between energy suppliers would likely increase the retail prices paid for consumers, because of the monopoly power that oligopoly firms possess - suppliers can use their monopoly power to restrict output compared to that of a competitive market, which forces up the market price (as shown in the diagram).The point where marginal cost ...
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