Economics Explained
Clear explanations of current economic events, written for A-level students studying AQA or Edexcel Economics. Each article shows how real-world examples can be used to understand economic theory, strengthen analysis and improve evaluation.
World Price and Imports Explained: The Economics Before a Tariff
Understand what economists mean by the world price, why imports arise, and how domestic demand and supply create the import gap before a tariff is introduced.
Who Actually Pays a Tariff? Where the Money Goes and Who Bears the Cost
Who actually pays a tariff, where does the money go, and does the price automatically rise? A simple example using imported tomatoes shows how tariffs work in practice — and why the person who pays the tariff is not necessarily the person who ultimately bears its cost.