Environmental sustainability – definition and issue Tejvan Pettinger Environmental sustainability is concerned with whether environmental resources will be protected and maintained for future generations. Environmental sustainability is concerned with issues such as: Long-term health of ecosystems. Protecting the long-term productivity and health of resources to meet future economic...
Who are the winners and losers from inflation? Tejvan Pettinger inflation Inflation is a continues rise in the price level. Inflation means the value of money will fall and purchase relatively fewer goods than previously. In summary: inflation will hurt those who keep cash savings and workers who have...
#schoolofeconomics Tejvan Pettinger uk economy The UK national debt is the total amount of money the British government owes to the private sector and other purchasers of UK gilts. In Nov 2018, UK public sector net debt was£1,7951.3 billion equivalent to 83.9% of GDP Source: [1. ONS public sector finances,- HF6X]...
#schoolofeconomics Tejvan Pettinger A summary for understanding exchange rates. Factors that affect exchange rates and the impact of exchange rates on the economy. Terminology Depreciation/devaluation – fall in value of exchange rate – exchange rate becomes weaker (see also: definition of devaluation and depreciation) Appreciation – increase in the...
Tejvan Pettinger In the past two decades, the UK has experienced a steady flow of net migrants into the economy. This net migration has had a wide-ranging impact on UK population, wages, productivity, economic growth and tax revenue. To what extent does net migration benefit the...
Tejvan Pettinger How does the minimum wage affect aggregate demand/aggregate supply and macroeconomic factors such as inflation, unemployment and economic growth? A minimum wage is the statutory minimum wage that employers can pay per hour. In 2018, the UK minimum wage was set at £7.83 an hour...
Tejvan Pettinger For the past 40 years, China has been one of the strongest performing economies – transforming itself from a developing economy to an unprecedented level of prosperity. However, in recent years, there have been concerns the rapid rate of growth in China is beginning to...
What caused the Wall Street Crash of 1929 Tejvan Pettinger The 1929 stock market crash was a result of an unsustainable boom in share prices in the preceding years. The boom in share prices was caused by the irrational exuberance of investors, buying shares on the margin,...
Tejvan Pettinger A typical supply curve shows an increase in supply as wages rise. It slopes from left to right. However, in labour markets, we can often witness a backward bending supply curve. This means after a certain point, higher wages can lead to a decline in...
Author: vsanthakumar The BJP government headed by Narendra Modi plans to transfer 6000 Rupees per annum to the account of small farmers. Rahul Gandhi has offered to make a cash transfer to ensure a minimum income to all poor households. This seems to be the time of...