Exam Skills, H2 Econs, Market Failure, Market Mechanism, Resources
JC Economics Essay PED & Imperfect Information for Demerit Goods Model Answers Oftentimes, Cambridge examiners and JC teachers set relatively tough essay questions by mixing concepts across topics. An example is this: Price Elasticity of Demand and Market...
Domestic Economy, Essays, Exam Skills, Externalities, H2 Econs, Market Failure
JC Econs Essay Positive Externality in Consumption & Housing Full Length Answers Of all the forms of positive externality in consumption, the market for housing is the least understood. Being one of the most prevalent forms of market failure in the world, you are...
Essays, Exam Skills, Externalities, H2 Econs, Market Failure
JC Economics Essay Market Efficiency & Subsidies Model Answers In a laissez faire system, the invisible hand of the free market will, based on the self interest of buyers and producer in a market, lead a market outcome, and that outcome will inevitably benefit...
Essays, Exam Skills, Externalities, H2 Econs, Market Failure
JC Economics Essay Market Failure & Indirect Taxes Model Answers It is a well known fact that the excessive use of plastic carrier bags is a serious environmental problem. The extensive use of mainly single-use bags, oil-based plastic bags is a waste of resources...
Essays, Exam Skills, H2 Econs, Market Failure, Market Mechanism, Resources
JC Economics Essay Concepts of Demand Elasticities Model Answers By now, you know that Cambridge examiners like to set harder questions by mixing concepts across topics. In this question, we have the concepts of Price and Cross-Price Elasticities of Demand with...
Essays, Exam Skills, Externalities, H2 Econs, Market Failure
JC Econs Essay Demerit Goods & Public Goods Model Answers While most of you understand what demerit goods, sometimes you do not get to explain how it leads an over-consumption of such goods, as a form of negative externality. Yes, in fact, depending on the...
