Government Regulation
How can governments regulate price and output?
Governments play an integral role in the free market economy. It’s purpose lies in the regulation of price and output through implementing laws and regulations in order to prevent market failure, protect the environment and ensure that an economy is sustainable. Examiners like to test students on how well they understand the roles and responsibilities a government has in the economy as well as on their ability to suggest and improve upon current regulations to better handle economic ills.
Economics Tuition: Explain what would limit the effectiveness of the austerity measures in the EU
Amidst the slow growth in the EU, the persistently high budget deficit and ballooning public debt have become major concerns for many governments in the EU. As a result, they have implemented 'austerity measures' to reduce their budget deficit by raising taxes and...
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Economics Tuition: Inflation is harmful to an economy and hence it should be the priority of the Singapore government to reduce inflation. Discuss.
Singapore experienced a quarterly growth rate of -0.7% from April to June 2012. However during the same period, inflation rate remained high at about 5%. "Inflation is harmful to an economy and hence it should be the priority of the Singapore government to reduce...
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Economics Tuition: Explain why inflation can remain high despite a slowdown in economic growth in Singapore
Singapore experienced a quarterly growth rate of -0.7% from April to June 2012. However during the same period, inflation rate remained high at about 5%. Explain why inflation can remain high despite a slowdown in economic growth in Singapore. [10] Introduction...
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Economics Tuition: Discuss the view that a large increase in national income is often but not always desirable
Discuss the view that a large increase in national income is often but not always desirable. [15] Introduction The increase in national income will mean that the economy has attained actual growth and this is very often understood to be beneficial. However, there are...
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Economics Tuition: Explain how changes in investment expenditure results in a larger change in national income
Explain how changes in investment expenditure results in a larger change in national income. [10] Introduction Investment refers to the part of the aggregate demand or expenditure that is spent on the production of capital equipment or infrastructure that will produce...
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Economics Tuition: The ultimate goal of all governments is to improve the general standard of living of its population. Explain how a government can improve the current and future standard of living of its population
The ultimate goal of all governments is to improve the general standard of living of its population. Explain how a government can improve the current and future standard of living of its population. [12] Introduction Standard of living measures the average quality of...
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Economics Tuition: Discuss the relative significance of input cost, consumer incomes and market concentration in influencing firms’ pricing decisions in your country
Discuss the relative significance of input cost, consumer incomes and market concentration in influencing firms’ pricing decisions in your country. [25] Introduction Firms in most industries in Singapore face an imperfect market condition and the pricing behaviours...
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Economics Tuition: Explain the indicators used in assessing the economic health of a country
Explain the indicators used in assessing the economic health of a country. The economic health of a country refers to the standard of living (SOL) of a country, which includes the material and non-material aspects. For the material aspect of SOL, it determines the...
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Economics Tuition: Assess the view that the Singapore government should use taxes rather than any other economic policies when dealing with the market failure associated with negative externalities
Assess the view that the Singapore government should use taxes rather than any other economic policies when dealing with the market failure associated with negative externalities. [25] Introduction Negative externalities are adverse effects imposed on third parties...
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Economics Tuition: How to study for A Level Economics
For JC students who are taking their A Level Economics Tuition, they are in need of an intensive revision programme to better prepare themselves for their impending examination. In the development of the intensive revision for Economics, they need to have the...
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