Fri. Jan 21st, 2022


This article, selected by a teacher with suggested questions, is part of the Financial Times Free School Access Program. Details / registration here.

Specification:

  • Market failure, supply and demand, subsidies, basic economic problem, sustainability

Click to read the article below and then answer the questions:

North-south separation emerges as sales of electric vehicles in the UK reach record highs

  1. Marginal private costs;

  2. Marginal social costs; and

  3. Marginal external costs

  • “The British government wants to end the sale of petrol and diesel cars by 2030.” Identify the market failures associated with petrol and diesel car rides

  • Use a market failure diagram and analyze the effect of the government’s consumer input subsidy for electric vehicles

  • “It’s a massive ambition to get the whole market going and if you’re going to achieve that, you have to use every lever at your disposal.” Discuss the advantages and disadvantages of switching to an electric vehicle

Gavin Clarke, Emmanuel College



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