Data is everywhere, yet nobody ever considers how much data we actually generate on a daily basis, mainly due to the development of technology. Just think about all the occasions during which you create data over the course of one typical day. Did you use your smartphone or your computer?

Different pensions available in the UK In the United Kingdom there are different way to gather money and generate your income source for after the retirement. The pension schemes available for UK citizens are three: the State Pension, the Workplace Pension and the Personal Pension. Knowing the basic characteristics of

Eric Mitchell Porat is a successful online entrepreneur working across multiple verticals. Since he started in 2010, he has built 6 companies, bought more than 50+ websites, and has become a prominent figure in the online space. Before we dive into our interview with Eric, let’s have a quick

Possible answer Assess price and non-price strategies used by major airlines. Possible answer: Major airlines operate under conditions of oligopoly, where strategy is very important. Pricing strategies include price reductions and discounts, cost-plus pricing and price discrimination. The effectiveness of price reductions for a firm operating under oligopolistic conditions, such

AQA assessment objectives AO1 Demonstrate detailed knowledge of a range of facts and concepts included in the AS specification. Demonstrate clear understanding of terminology, institutions, models. AO2 Apply concepts, numerical and graphical techniques, theories and models’ terminology – to issues arising in familiar and unfamiliar situations. AO3 Select relevant concepts, models,

Edexcel Assessment Objectives   AO1 Demonstrate knowledge and understanding of the specified content. AO2 Apply knowledge and understanding of the specified content to problems and issues arising from both familiar and unfamiliar situations AO3 Analyse economic problems and issues. AO4 Evaluate economic arguments and evidence, making informed judgements.

Answer Data response on zinc (1 hour) Zinc is the fourth most widely used metal, after iron, aluminium and copper. Zinc is used in a variety of ways, including the production of alloys used in the motor and construction industries. It is also used in the production of chemicals, some

Cost Benefit Analysis Question 1 A new football stadium is planned for a town. Print out this page and make a list of the private costs and benefits and the external costs and benefits associated with the building and running of the stadium. How could ‘cost benefit’ analysis be used

Question 1 Review exchange rates, and answer the following questions: 1. Explain how an increase in the value of a currency can affect its economy. 2. What are the economic risks associated with a falling currency?

Global shocks Question 1 Analyse the likely economic effects of a rise in commodity prices? Question 2 Examine the likely effects of the financial crisis on the real economy. Question 3 What policy options are available to help reduce the effects of a negative economic shock?

Government failure Question 1 The National Health Service (NHS) has been the subject of heated debate ever since its formation in the 1940s. Most analysts and politicians accept that an effective health service needs to be funded by tax revenues collected by central (or local) government. However, not everyone accepts

National income equilibrium Question 1 In each of the following questions, assume that the economy is in equilibrium at X. Identify the new equilibrium following the changes given below: 1. Consumer confidence rises. 2. There is better use of new technology leading to cost efficiencies by firms. 3. There is

Taxation Question The following figures relate to the demand and supply of cigarettes: Price £ Q demanded (m) Q supplied (m) 7.00 600 1500 6.50 650 1400 6.00 700 1300 5.50 750 1200 5.00 800 1100 4.50 850 1000 4.00 900 900 3.50

Vanilla prices A poor harvest of black vanilla has had a considerable impact on vanilla prices in recent months. Wholesale prices of the spice rose by over 20% during February and March (2012), and food and drink manufacturers have warned that this could have considerable knock-on effects. Global stocks are

Data response on coffee and sugar In May 2009 it was reported that world coffee and sugar prices were expected to rise sharply because of poor crop levels and rising demand. Rising commodity prices have been largely unexpected because it was widely predicted that the global recession would reduce rather

Global problems Question 1 1. Analyse the likely impact on the UK economy, or an economy of your choice, of an increase in government spending on higher education. 2. What are automatic stabilisers and how do they work? 3. What are the main disadvantages of an increase in income tax,

Trading blocs Question 1 – short questions 1. Distinguish between free trade areas (FTAs) and customs unions. 2. Why do you think trading blocs have come to dominate world trade over the last 40 years? 3. What do you think are the two main advantages and two main disadvantages of trading

Tariffs Question 1 By 2010 Mythica was self sufficient in wheat, which is used to make bread, cake and pastries. During the mid 20th Century Mythica was at war with its closest neighbours, Utopia and Atlantis, for over 10 years. After this war Mythica invested large amounts in developing its

Growth and development Question 1 Distinguish between economic growth and economic development. Question 2 How important is the accumulation of saving to a country’s economic growth? Question 3 Contrast balanced and unbalanced growth. Question 4 Evaluate the role of government in facilitating economic growth and development. Question 4 Taking

Question 1 Using diagrams, explain what would happen to sterling, or another currency of your choice, other things being equal, if: a. There are more tourists into the country. b. Foreign speculators sell the currency. c. Interest rates rise relative to those of the the county’s major trading partners.