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Questions on supply


Gender pay gap

80% of UK companies and public sectors organisations pay women less than men.

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If the price of a product changes it will result in a new quantity supplied and a movement along the existing supply curve.

However, if another ‘determinant of supply’ changes it will result in a shift of the supply curve to a new position, to the right (an increase) or to the left (decrease).

In the following cases, draw an original supply curve (S) and a new supply curve to the left or right, and label it S1.

  1. The supply of economics textbooks following a fall in the cost of printing.

  2. Ice cream, following a rise in the cost of milk.

  3. Underground (metro) travel following a strike by train drivers.

  4. The world supply of oil following the discovery and refining of large oil reserves in Russia.

  5. The supply of wine from France following the imposition of a tax on imported wine.

  6. The supply of bread in an economy following the granting of a subsidy by the government to bread producers.


WTO rules

What exactly is the 'most favoured nation' rule?

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Model agencies collude to fix rates

Regulators find leading model agencies guilty of price fixing.

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Customs unions

Costs and benefits of customs unions.

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Savings ratio

Savings ratio falls to lowest level on record.

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