Activities
Paper 1 real world example: Social costs in the mobile phone market
A report by the United Nations Educational, Scientific and Cultural Organization(UNESCO) recommended that governments ban mobile phones in schools. Many countries have followed the recommendation including...
Activities
Paper 1 real world example: Price elasticity of demand and revenue
You may well have experienced a pricing method called surge or dynamic pricing if you are taking an Uber taxi. After a major concert, sporting event or just the city centre ‘rush-hour’ time in the evening...
Activities
Paper 1 real world example: Negative externalities, sustainability and subsidies
The North Sea is one of the global centres for wind energy. This is a sea that lies between the UK and Western Europe which is bordered by 9 countries. It is an area that is a huge opportunity to further...
Activities
Paper 1 real world example: Merit and demerit goods
The United States is experiencing a wave of drug-related deaths from the drug fentanyl. It is a prescription drug that is used to treat people with severe pain, particularly after surgery. But fentanyl...
Activities
Paper 1 real world example: Market failure, sustainability, policies to correct market failure
As COP29 comes to a close, the world’s governments face significant challenges in trying to move towards net zero. This will be a considerable challenge for China, the earth's biggest polluter, which...
Activities
Paper 1 real world example: Market failure in the vaping market.
Vaping is now one of the biggest challenges for schools in Australia with large numbers of pupils becoming dependent and even making themselves sick from using vapes. Terry Slevin from the Public Health...
Activities
Paper 1 real world example: Market failure in the social media market
Following the US presidential election, it was reported that many users abandoned X, the social media platform owned by Elon Musk. Many users were concerned about Musk’s influence over the US election...
Activities
Paper 1 real world example: Changes in population
Immigration has been one of the most prominent political issues over the last few years. It has always been important, but with a world population increasingly on the move, its significance has grown....
Activities
Paper 1 real world example: How changing demography changes a market
The US-based apparel company Skechers, founded in 1992 and based in Southern California, has become one of the most successful businesses in the sportswear market in recent years. The company has multiplied...
Activities
Paper 1 real world example: Common-pool resources
On the southern tip of Sardinia, Italy, lies the popular beach of Tuerredda. This 500-metre sheltered beach is a favourite among visitors because of its white sand and crystal-clear, tranquil waters....