Reference library | tutor2u Economics
Study notes



Profit measures the return to risk when committing scarce resources to a market or industry

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Who gains and who loses out from persistent and pervasive price targeting by businesses? To what extent does price discrimination help to achieve an efficient allocation of resources? There are...

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Monopoly - Price Discrimination and Economic Welfare

In recent times, the debate over continued UK membership of the European Union single market has become more intense and heated. Here are some of the main arguments on both...

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UK Membership of the European Union
Student videos

Direct and Indirect Taxes


This short topic video looks at the difference between direct and indirect taxes

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Direct and Indirect Taxes

The Phillips Curve traces the relationship between pay growth on the one hand and the balance of labour market supply and demand, represented by unemployment, on the other. It has...

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The Changing Phillips Curve in the UK Economy

The equilibrium price and quantity in a market will change when there are shifts in both market supply and demand.

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Changes in Market Equilibrium Price

How much and how far can and should a government intervene to change the final distribution of income and wealth in their own country?

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Fiscal Policy - Distribution of Income and Wealth

The UK government is introducing a tax on high-sugar drinks and may well expand the indirect tax to foods that have a high sugar content. Is this an effective and...

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Sugar Taxes (Government Intervention)

The Private Finance Initiative (PFI) is an important and controversial policy designed to change the model of funding for large-scale investment projects.

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Private Finance Initiative

When a government's tax revenues are insufficient to pay for a given level of state spending then a nation must borrow to make up the difference, this is a budget...

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Fiscal Policy - Government Borrowing

What is first mover advantage? First mover advantage is the idea that by being the first to enter a new market, a business gains a commercial advantage over its actual...

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Game Theory - First Mover Advantage
Student videos

Utility Maximisation


With a single product, total utility is maximised when the marginal utility from the next unit consumed is zero (assuming that the budget of the consumer allows this point to...

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Utility Maximisation

The EU single market involves integration between nations and is built upon four key freedoms:

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European Single Market

The term 'sustainable' means 'enduring' and 'lasting' and 'to keep in being'

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Sustainable Development

In this 3 minute video we develop simple chains of reasoning to help explain why the production possibility frontier for an economy might shift inwards. We also revise the difference between...

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PPF - An Inward Shift (Chain of Analysis)

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