Microeconomics and Macroeconomics

Case study · The energy market

With reference to Figure 1 and Extract A, explain what is meant by ‘price inelastic demand’ (line 8).

Case study · The energy market

Examine one likely externality that arises when a producer generates electricity by burning gas. Use a diagram to show the external costs of production.

Diagram needed. Open the original question paper for the diagram ↗

Case study · The energy market

With reference to Figure 2 and Extract B, discuss the possible constraints on business growth for firms supplying energy to households in the UK.

Case study · The energy market

Evaluate the microeconomic and macroeconomic factors that explain gender-based wage differences in the UK oil and gas industry.

Case study · The energy market

Evaluate the microeconomic and macroeconomic advantages for a country specialising in energy production using gas.

Case study · Ghana – cocoa and chocolate production

Explain one reason why a country might operate a managed exchange rate. Refer to Extract D in your answer.

Case study · Ghana – cocoa and chocolate production

With reference to the second paragraph of Extract E, examine two likely problems for the expansion of the chocolate industry in Ghana.

Case study · Ghana – cocoa and chocolate production

Discuss factors influencing the level of aggregate demand in Ghana. Use an aggregate demand and aggregate supply diagram in your answer.

Diagram needed. Open the original question paper for the diagram ↗

Case study · Ghana – cocoa and chocolate production

Evaluate the microeconomic and macroeconomic effects of high interest rates in Ghana, or another developing country of your choice.

Case study · Ghana – cocoa and chocolate production

Evaluate the microeconomic and macroeconomic effects of Ghana joining the African Continental Free Trade Agreement (Extract F).