Here's this week economics news quiz! The quiz has 8 multi-choice questions about news events relating to economics from the previous 7 days. Most of the questions relate to the UK economy but some ...

Market failure happens when the price mechanism fails to allocate scarce resources efficiently or when the operation of market forces lead to a net social welfare loss Market failure exists when the ...

In economics, resource depletion refers to the reduction or exhaustion of natural resources due to overconsumption, excessive extraction, or unsustainable use. It occurs when the rate at which ...

The difference between renewable and non-renewable resources lies in their availability and ability to replenish over time. Here’s a breakdown of the key differences: Definition: Renewable resources ...

According to the Bank of England, in a modern economy, money is a type of IOU, but one that is special because everyone in the economy trusts that it will be accepted by other people in exchange for ...

Instant digital download available for this comprehensive suite of assessment resources for Edexcel GCSE (9-1) Business. Assessment Resources for Edexcel A-Level Business Instant digital download ...

In economics, resource depreciation refers to the decline in the value or productive capacity of a natural or physical resource over time, usually as a result of its ...

What are the economic costs of the recent widespread flooding across Europe? The recent floods in Central Europe are projected to cause significant economic losses, potentially exceeding €1 billion.

In economics, “there is no such thing as a free lunch!” Even if we are not asked to pay money for something, scarce resources are used up in production and there is an opportunity cost involved.

Using this chart from the Bank of England (scroll down to the chart called Official Bank Rate), answer these questions: 1. Why does the Bank base rate change ‘in steps’ rather than a smoother trend ...

Exam revision in a cinema! Every tutor2u workshop takes place in a modern cinema screen. So, settle down in a fantastic auditorium for some intensive exam preparation away from classroom distractions.

The income effect and substitution effect are two concepts used to explain how and why consumers change their consumption patterns in response to changes in the price of a good or service. These ...